T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $120.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $115.00 to $120.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

TROW has been the topic of several other reports. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Morgan Stanley increased their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Evercore ISI increased their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Trading Up 0.4 %

NASDAQ:TROW opened at $118.49 on Monday. The firm has a market cap of $26.32 billion, a P/E ratio of 12.96, a PEG ratio of 1.72 and a beta of 1.41. The stock’s 50 day simple moving average is $109.83 and its 200-day simple moving average is $112.02. T. Rowe Price Group has a 12-month low of $94.47 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently modified their holdings of the stock. CreativeOne Wealth LLC grew its stake in T. Rowe Price Group by 57.7% in the third quarter. CreativeOne Wealth LLC now owns 20,664 shares of the asset manager’s stock valued at $2,251,000 after purchasing an additional 7,561 shares in the last quarter. Blueshift Asset Management LLC raised its holdings in T. Rowe Price Group by 127.6% in the 3rd quarter. Blueshift Asset Management LLC now owns 4,429 shares of the asset manager’s stock valued at $482,000 after acquiring an additional 2,483 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of T. Rowe Price Group by 794.1% in the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock worth $1,730,000 after buying an additional 14,103 shares in the last quarter. RBO & Co. LLC raised its holdings in shares of T. Rowe Price Group by 5.0% in the 3rd quarter. RBO & Co. LLC now owns 82,435 shares of the asset manager’s stock worth $8,980,000 after buying an additional 3,960 shares in the last quarter. Finally, Townsquare Capital LLC grew its position in T. Rowe Price Group by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after acquiring an additional 299 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.