T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $115.00

T. Rowe Price Group (NASDAQ:TROW) had its price target upped by Deutsche Bank Aktiengesellschaft from $113.00 to $115.00 in a report published on Monday, Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Several other brokerages also recently weighed in on TROW. TD Cowen reduced their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Morgan Stanley upped their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI lifted their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Finally, 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $114.73.

T. Rowe Price Group Trading Up 5.9 %

T. Rowe Price Group stock opened at $121.31 on Monday. T. Rowe Price Group has a 12 month low of $90.02 and a 12 month high of $122.27. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. The business’s fifty day simple moving average is $108.79 and its two-hundred day simple moving average is $111.82.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.17 EPS. On average, equities research analysts predict that T. Rowe Price Group will post 9.27 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insider Buying and Selling at T. Rowe Price Group

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

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. Norden Group LLC purchased a new stake in shares of T. Rowe Price Group in the first quarter worth about $420,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of T. Rowe Price Group by 12.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,487 shares of the asset manager’s stock worth $669,000 after acquiring an additional 607 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at approximately $121,000. Daiwa Securities Group Inc. grew its holdings in shares of T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock valued at $2,685,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Paulson Wealth Management Inc. increased its position in T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.