Barclays Raises T. Rowe Price Group (NASDAQ:TROW) Price Target to $101.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective increased by Barclays from $99.00 to $101.00 in a research report released on Monday, Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Evercore ISI lifted their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $112.82.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $113.21 on Monday. T. Rowe Price Group has a 52-week low of $87.43 and a 52-week high of $122.27. The stock’s 50-day simple moving average is $107.33 and its 200 day simple moving average is $112.09. The stock has a market capitalization of $25.28 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.84 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group will post 9.04 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $1,008,000. Envestnet Portfolio Solutions Inc. lifted its position in T. Rowe Price Group by 52.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Norden Group LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $8,437,000. Forsta AP Fonden lifted its position in T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Finally, Mizuho Markets Americas LLC raised its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after acquiring an additional 42,949 shares in the last quarter. 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.