T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Morgan Stanley Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by Morgan Stanley from $127.00 to $129.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other research firms have also issued reports on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Evercore ISI boosted their price target on shares of 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. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Four 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 currently has an average rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Stock Performance

NASDAQ TROW 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 50 day simple moving average of $108.79 and a 200-day simple moving average of $111.82. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share. Equities 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. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, 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 stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Meeder Asset Management Inc. raised its position in T. Rowe Price Group by 260.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,227 shares of the asset manager’s stock worth $1,005,000 after buying an additional 6,669 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of T. Rowe Price Group by 3.4% during the third quarter. Pathstone Holdings LLC now owns 27,535 shares of the asset manager’s stock worth $2,999,000 after acquiring an additional 894 shares during the period. Windle Wealth LLC raised its holdings in T. Rowe Price Group by 9.1% during the third quarter. Windle Wealth LLC now owns 62,375 shares of the asset manager’s stock worth $6,795,000 after purchasing an additional 5,216 shares in the last quarter. Mendel Capital Management LLC lifted its position in T. Rowe Price Group by 4.4% in the third quarter. Mendel Capital Management LLC now owns 5,164 shares of the asset manager’s stock valued at $562,000 after purchasing an additional 219 shares during the period. Finally, LMR Partners LLP purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $249,000. 73.39% of the stock is currently owned by hedge funds and other 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.