T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $116.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by Morgan Stanley from $112.00 to $116.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI decreased their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. Barclays upped their price target on T. Rowe Price Group from $90.00 to $91.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $90.00 to $98.00 and gave the stock an “underweight” rating in a report on Wednesday, July 16th. Finally, TD Cowen cut their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $101.09.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.42 on Monday. 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 $23.16 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.87 and a beta of 1.47. The company’s 50-day moving average is $99.07 and its 200 day moving average is $98.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for 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%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. Research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% 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, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new position in shares of T. Rowe Price Group in the first quarter worth about $27,000. Ameriflex Group Inc. bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $42,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $35,000. Finally, Curio Wealth LLC raised its stake in T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after acquiring an additional 414 shares during the period. 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.