Barclays Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective lifted by Barclays from $91.00 to $95.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Evercore ISI increased their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the company an “in-line” rating in a research note on Monday. Finally, The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.09.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $105.94 on Monday. The stock has a market capitalization of $23.34 billion, a P/E ratio of 11.84, a PEG ratio of 3.03 and a beta of 1.47. The company has a 50 day moving average price of $98.64 and a 200 day moving average price of $98.16. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.84% and a net margin of 28.72%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider directly owned 13,611 shares of the company’s stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently made changes to their positions in TROW. Vanguard Group Inc. grew its position in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares during the period. Fayez Sarofim & Co boosted its holdings in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Invesco Ltd. increased its stake in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of T. Rowe Price Group by 4.9% during the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock worth $271,541,000 after acquiring an additional 138,515 shares during the period. Institutional investors and hedge funds 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.