T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $106.00

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by Jefferies Financial Group from $104.00 to $106.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. The firm currently has a hold rating on the asset manager’s stock.

A number of other analysts also recently issued reports on TROW. Barclays restated an “underweight” rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Bank of America raised their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Morgan Stanley raised their price target on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $104.69.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $106.01 on Tuesday. The company has a market capitalization of $23.29 billion, a P/E ratio of 11.84, a P/E/G ratio of 6.83 and a beta of 1.50. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The stock has a 50 day moving average price of $105.85 and a 200-day moving average price of $98.39.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $2.26 earnings per share. As a group, equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently made changes to their positions in TROW. TD Waterhouse Canada Inc. increased its stake in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group during the first quarter valued at $27,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after buying an additional 113 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group during the second quarter valued at $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.