T. Rowe Price Group (NASDAQ:TROW) Given New $96.00 Price Target at The Goldman Sachs Group

T. Rowe Price Group (NASDAQ:TROWGet Rating) had its price target upped by The Goldman Sachs Group from $84.00 to $96.00 in a research note released on Wednesday, Stock Target Advisor reports. The Goldman Sachs Group currently has a sell rating on the asset manager’s stock.

A number of other equities analysts also recently commented on TROW. UBS Group cut their target price on shares of T. Rowe Price Group from $88.00 to $84.00 and set a sell rating on the stock in a research note on Friday, July 29th. BMO Capital Markets lowered their price target on shares of T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $90.00 to $93.00 and gave the company an underweight rating in a report on Tuesday, October 18th. StockNews.com began coverage on shares of T. Rowe Price Group in a report on Wednesday, October 12th. They set a hold rating for the company. Finally, Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $105.00 to $100.00 and set an equal weight rating for the company in a report on Monday, October 31st. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Reduce and a consensus price target of $113.90.

T. Rowe Price Group Stock Down 0.0 %

NASDAQ:TROW opened at $124.40 on Wednesday. The company has a market cap of $27.80 billion, a P/E ratio of 14.28, a P/E/G ratio of 2.25 and a beta of 1.25. T. Rowe Price Group has a fifty-two week low of $93.53 and a fifty-two week high of $208.65. The firm’s 50 day moving average is $109.92 and its two-hundred day moving average is $116.82.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. T. Rowe Price Group had a net margin of 29.35% and a return on equity of 23.88%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $3.27 EPS. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group will post 7.9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Friday, December 16th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, December 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.11%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the transaction, the insider now directly owns 41,000 shares of the company’s stock, valued at approximately $5,090,150. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zullo Investment Group Inc. boosted its holdings in shares of T. Rowe Price Group by 164.6% in the 3rd quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock valued at $27,000 after buying an additional 158 shares during the period. Oakworth Capital Inc. acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $28,000. Eisler Capital UK Ltd. acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $29,000. Artemis Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 39.7% in the 2nd quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock valued at $33,000 after buying an additional 83 shares during the period. Finally, Core Alternative Capital boosted its holdings in shares of T. Rowe Price Group by 167.7% in the 2nd quarter. Core Alternative Capital now owns 332 shares of the asset manager’s stock valued at $38,000 after buying an additional 208 shares during the period. 74.94% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

(Get Rating)

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.

Further Reading

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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