T. Rowe Price Group (NASDAQ:TROW) Given New $110.00 Price Target at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by Evercore ISI from $106.00 to $110.00 in a report released on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

Other equities analysts also recently issued research reports about the company. TD Cowen cut their price target on 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. Citigroup dropped their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the company an “underweight” rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $101.09.

T. Rowe Price Group Stock Up 2.8%

Shares of NASDAQ:TROW opened at $105.94 on Monday. The stock’s 50 day moving average is $98.64 and its 200-day moving average is $98.16. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $23.34 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 3.03 and a beta of 1.47.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently made changes to their positions in TROW. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $27,000. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the first quarter worth about $39,000. Curio Wealth LLC lifted its holdings in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $41,000. 73.39% of the stock is owned by institutional investors.

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.