T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $103.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by JPMorgan Chase & Co. from $94.00 to $103.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

TROW has been the subject of a number of other research reports. UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a sell rating in a report on Friday, April 12th. StockNews.com downgraded T. Rowe Price Group from a buy rating to a hold rating in a research note on Friday, February 9th. TD Cowen raised shares of T. Rowe Price Group from a sell rating to a hold rating and lifted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Wells Fargo & Company boosted 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 report on Friday, February 9th. Finally, Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an equal weight rating in a report on Friday, January 19th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $112.67.

T. Rowe Price Group Trading Down 2.4 %

Shares of TROW stock opened at $108.72 on Tuesday. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market cap of $24.31 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.16 and a beta of 1.40. The stock has a 50 day moving average of $114.67 and a 200 day moving average of $106.71.

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

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio is presently 63.92%.

Insider Activity at T. Rowe Price Group

In related news, 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 transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new position in T. Rowe Price Group during the third quarter worth $25,000. Creative Financial Designs Inc. ADV lifted its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $26,000. First United Bank & Trust purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Finally, Park Place Capital Corp grew its holdings in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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.