JPMorgan Chase & Co. Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by JPMorgan Chase & Co. from $116.00 to $115.00 in a research note published on Monday,Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

Several other brokerages have also issued reports on TROW. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating 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 research report on Friday, October 4th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen reduced their target price on shares of 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. Finally, Barclays lifted their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Stock Performance

TROW opened at $120.06 on Monday. T. Rowe Price Group has a fifty-two week low of $90.02 and a fifty-two week high of $122.27. The company has a fifty day moving average of $108.79 and a two-hundred day moving average of $111.82. The stock has a market capitalization 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 released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group will post 9.27 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, 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. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of large investors have recently bought and sold shares of TROW. Norden Group LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth $420,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in 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 purchasing an additional 607 shares during the period. Fidelis Capital Partners LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth $121,000. Daiwa Securities Group Inc. boosted its stake in T. Rowe Price Group by 9.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock worth $2,685,000 after purchasing an additional 1,880 shares during the period. Finally, Paulson Wealth Management Inc. boosted 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 purchasing an additional 95 shares during the period. Institutional investors and hedge funds 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.