T. Rowe Price Group (NASDAQ:TROW) Given New $85.00 Price Target at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its target price decreased by Barclays from $105.00 to $85.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the asset manager’s stock.

Other research analysts have also issued research reports about the company. Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $85.37 on Wednesday. The company’s fifty day moving average is $96.58 and its two-hundred day moving average is $108.71. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Sell-side analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.95%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction 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 sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its stake in T. Rowe Price Group by 13.6% in the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock worth $89,635,000 after purchasing an additional 98,448 shares during the period. Tudor Financial Inc. purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at $668,000. Sanctuary Advisors LLC boosted its position in shares of T. Rowe Price Group by 6.6% in the third quarter. Sanctuary Advisors LLC now owns 14,644 shares of the asset manager’s stock worth $1,755,000 after buying an additional 902 shares during the period. World Investment Advisors LLC purchased a new position in shares of T. Rowe Price Group during the third quarter valued at $273,000. Finally, Wilmington Savings Fund Society FSB raised its position in T. Rowe Price Group by 191.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 11,404 shares of the asset manager’s stock valued at $1,242,000 after buying an additional 7,486 shares during the period. 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.