T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $113.00 at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by Barclays from $115.00 to $113.00 in a report issued on Friday,Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

TROW has been the topic of several other research reports. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday. TD Cowen reduced their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $113.21 on Friday. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock’s fifty day moving average is $117.80 and its two-hundred day moving average is $112.86. The firm has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 earnings per share. On average, equities analysts forecast that T. Rowe Price Group will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently modified their holdings of the business. Donoghue Forlines LLC raised its stake in shares of T. Rowe Price Group by 9.6% in the fourth quarter. Donoghue Forlines LLC now owns 12,806 shares of the asset manager’s stock valued at $1,448,000 after acquiring an additional 1,122 shares in the last quarter. Avior Wealth Management LLC raised its position in T. Rowe Price Group by 487.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,198 shares of the asset manager’s stock valued at $135,000 after purchasing an additional 994 shares in the last quarter. Bill Few Associates Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% in the 4th quarter. Bill Few Associates Inc. now owns 2,470 shares of the asset manager’s stock valued at $279,000 after buying an additional 165 shares during the period. Mutual Advisors LLC grew its position in shares of T. Rowe Price Group by 1.9% during the fourth quarter. Mutual Advisors LLC now owns 41,545 shares of the asset manager’s stock worth $4,658,000 after buying an additional 779 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $207,000. 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.