T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $110.00 at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by Barclays from $101.00 to $110.00 in a research report report published on Monday,Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Stock Performance

TROW stock opened at $120.06 on Monday. T. Rowe Price Group has a one year low of $90.02 and a one year high of $122.27. The firm has a market cap of $26.67 billion, a PE ratio of 13.14, a PEG ratio of 1.73 and a beta of 1.41. The firm’s 50 day moving average price is $108.79 and its 200-day moving average price is $111.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. Equities research analysts predict that T. Rowe Price Group will post 9.27 EPS for the current fiscal 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 paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.13%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Insight Folios Inc boosted its stake in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 90 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of T. Rowe Price Group by 7.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 92 shares during the last quarter. Keystone Financial Services boosted its position in shares of T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares during the period. Paulson Wealth Management Inc. grew its stake in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares during the last quarter. Finally, Nvwm LLC increased its position in T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares during the period. 73.39% of the stock is 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.