T. Rowe Price Group (NASDAQ:TROW) Given New $90.00 Price Target at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by Barclays from $85.00 to $90.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

TROW has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Morgan Stanley cut their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Finally, TD Cowen cut their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $96.45.

T. Rowe Price Group Price Performance

TROW opened at $91.43 on Monday. The firm has a market cap of $20.32 billion, a P/E ratio of 9.98, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50 day simple moving average of $91.55 and a two-hundred day simple moving average of $106.79.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $2.38 EPS. T. Rowe Price Group’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.56%. T. Rowe Price Group’s dividend payout ratio is 57.60%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently added to or reduced their stakes in TROW. Teachers Retirement System of The State of Kentucky raised its holdings in shares of T. Rowe Price Group by 4.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,144 shares of the asset manager’s stock worth $1,575,000 after buying an additional 677 shares during the period. Transce3nd LLC grew its position in T. Rowe Price Group by 9.5% in the 1st quarter. Transce3nd LLC now owns 4,792 shares of the asset manager’s stock valued at $440,000 after acquiring an additional 415 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in T. Rowe Price Group by 74.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager’s stock worth $1,829,000 after purchasing an additional 8,473 shares during the period. Midwest Professional Planners LTD. lifted its position in shares of T. Rowe Price Group by 1.8% during the first quarter. Midwest Professional Planners LTD. now owns 18,447 shares of the asset manager’s stock worth $1,695,000 after purchasing an additional 324 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 65.2% during the first quarter. Larson Financial Group LLC now owns 717 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 283 shares during the period. Institutional investors 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.