T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $113.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by Evercore ISI from $112.00 to $113.00 in a research report released on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a report on Monday. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Trading Down 1.4 %

NASDAQ TROW traded down $1.67 on Thursday, hitting $118.39. The company’s stock had a trading volume of 662,871 shares, compared to its average volume of 1,260,589. The firm has a market cap of $26.30 billion, a P/E ratio of 13.14, a PEG ratio of 1.76 and a beta of 1.41. The company’s 50-day simple moving average is $108.79 and its 200 day simple moving average is $111.82. T. Rowe Price Group has a 52-week low of $90.02 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released 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 during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. On average, research analysts forecast that T. Rowe Price Group will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the business’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 approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the business’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 approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was 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 owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently added to or reduced their stakes in TROW. International Assets Investment Management LLC increased its stake in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the last quarter. AQR Capital Management LLC increased its stake in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares during the last quarter. Burney Co. bought a new stake in T. Rowe Price Group during the second quarter worth approximately $20,938,000. Finally, Canada Pension Plan Investment Board increased its stake in T. Rowe Price Group by 1,328.0% during the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after acquiring an additional 150,665 shares during the last quarter. 73.39% of the stock is owned by 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.