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

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

Several other research firms also recently commented on TROW. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an underweight rating in a research note on Tuesday. StockNews.com downgraded T. Rowe Price Group from a buy rating to a hold rating in a report on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an underperform rating to a market perform rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Citigroup boosted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $112.67.

T. Rowe Price Group Trading Down 0.6 %

TROW stock opened at $111.39 on Wednesday. The business’s fifty day moving average price is $114.67 and its 200 day moving average price is $106.69. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a market capitalization of $24.91 billion, a PE ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 1.40.

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

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.45%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares during the period. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares during the period. Clear Harbor Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after buying an additional 100 shares during the last quarter. Finally, TCM Advisors LLC increased its position in T. Rowe Price Group by 1.5% in the 1st quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager’s stock valued at $779,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.