T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $89.00 by Analysts at TD Cowen

T. Rowe Price Group (NASDAQ:TROW) had its price objective trimmed by TD Cowen from $112.00 to $89.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

A number of other research firms have also recently issued reports on TROW. Bank of America decreased their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Citigroup decreased their target price on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.00.

T. Rowe Price Group Trading Up 3.3 %

NASDAQ TROW opened at $88.74 on Wednesday. The stock has a 50-day moving average of $97.98 and a 200-day moving average of $109.16. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a market cap of $19.72 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the business posted $1.72 EPS. As a group, equities research analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Addison Advisors LLC lifted its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC bought a new position in T. Rowe Price Group in the 4th quarter worth $27,000. Y.D. More Investments Ltd increased its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth $32,000. Finally, Advantage Trust Co raised its holdings in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.