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

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by Morgan Stanley from $112.00 to $116.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Several other research analysts also recently weighed in on TROW. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 16th. TD Cowen cut their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Evercore ISI reduced their price target 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. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.09.

T. Rowe Price Group Stock Up 2.8%

NASDAQ TROW opened at $105.94 on Monday. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market capitalization of $23.34 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47. The stock’s 50-day moving average price is $98.64 and its 200-day moving average price is $98.16.

T. Rowe Price Group (NASDAQ:TROW) last released its 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. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.84%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 EPS. Research analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the 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 sale, the insider owned 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TROW. Exchange Traded Concepts LLC grew its holdings in T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock valued at $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock valued at $6,369,000 after buying an additional 36,190 shares during the period. Mather Group LLC. grew its stake in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock valued at $12,455,000 after buying an additional 14,371 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after buying an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of T. Rowe Price Group by 12.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after buying an additional 24,323 shares during the period. Institutional investors 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.