Barclays Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $101.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by Barclays from $99.00 to $101.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

Several other analysts have also weighed in on the company. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. TD Cowen cut their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $112.82.

T. Rowe Price Group Trading Up 1.9 %

TROW stock opened at $111.58 on Monday. The firm’s 50-day moving average is $107.17 and its two-hundred day moving average is $112.08. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. 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 announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS. On average, equities research analysts predict that T. Rowe Price Group will post 9.04 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.56%.

Insider Activity

In other T. Rowe Price Group news, 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 transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated 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 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. Corporate 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. Victory Capital Management Inc. lifted its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after buying an additional 40,490 shares during the period. Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in T. Rowe Price Group by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock valued at $75,429,000 after buying an additional 4,701 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

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.