T. Rowe Price Group (NASDAQ:TROW) Given New $127.00 Price Target at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price objective increased by Morgan Stanley from $125.00 to $127.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other equities analysts also recently commented on the company. 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 research note on Friday, October 4th. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Stock Up 2.1 %

NASDAQ:TROW opened at $115.63 on Friday. The company has a market cap of $25.74 billion, a PE ratio of 13.65, a P/E/G ratio of 1.93 and a beta of 1.41. The business’s 50 day moving average is $107.54 and its two-hundred day moving average is $111.96. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.08 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. Investors of record on Friday, September 13th were paid a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.29%. T. Rowe Price Group’s dividend payout ratio is currently 58.56%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, 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 is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lynx Investment Advisory bought a new stake in T. Rowe Price Group during the second quarter worth approximately $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group in the 2nd quarter worth $36,000. Versant Capital Management Inc lifted its position in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 160 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.