Morgan Stanley Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $125.00

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by Morgan Stanley from $114.00 to $125.00 in a research note issued to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an underweight rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an underweight rating in a research report on Tuesday. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an underperform rating to a market perform rating and lifted their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. TD Cowen upgraded T. Rowe Price Group from a sell rating to a hold rating and lifted their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, StockNews.com cut T. Rowe Price Group from a buy rating to a hold rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $112.67.

T. Rowe Price Group Price Performance

TROW opened at $108.73 on Wednesday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76. The stock has a market cap of $24.32 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.15 and a beta of 1.40. The stock’s 50 day moving average price is $114.72 and its 200 day moving average price is $106.74.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm earned $1.74 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insider Transactions at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the business. PCA Investment Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter worth $26,000. Creative Financial Designs Inc. ADV boosted its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. OFI Invest Asset Management acquired a new stake in T. Rowe Price Group during the third quarter valued at $25,000. First United Bank & Trust acquired a new stake in T. Rowe Price Group during the fourth quarter valued at $31,000. Finally, Park Place Capital Corp boosted its position in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds 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.