T. Rowe Price Group (NASDAQ:TROW) Given New $112.00 Price Target at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its price target boosted by Keefe, Bruyette & Woods from $110.00 to $112.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market perform rating on the asset manager’s stock.

TROW has been the topic of a number of other reports. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Barclays boosted their price target on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the company an “underweight” rating in a report on Wednesday, July 16th. Evercore ISI raised their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.09.

T. Rowe Price Group Trading Up 2.8%

T. Rowe Price Group stock opened at $105.94 on Monday. The company has a market cap of $23.34 billion, a PE ratio of 11.84, a PEG ratio of 3.03 and a beta of 1.47. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The company’s 50-day moving average is $98.64 and its two-hundred day moving average is $98.16.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis 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 (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 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 sale, the vice president owned 44,789 shares of the company’s stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider 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 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 institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kerusso Capital Management LLC bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $1,624,000. Creative Financial Designs Inc. ADV boosted its position in T. Rowe Price Group by 9.2% during the second quarter. Creative Financial Designs Inc. ADV now owns 11,423 shares of the asset manager’s stock valued at $1,102,000 after purchasing an additional 963 shares during the last quarter. IFG Advisory LLC boosted its position in T. Rowe Price Group by 2.7% during the second quarter. IFG Advisory LLC now owns 29,999 shares of the asset manager’s stock valued at $2,895,000 after purchasing an additional 799 shares during the last quarter. Strs Ohio grew its stake in T. Rowe Price Group by 24.4% in the second quarter. Strs Ohio now owns 23,819 shares of the asset manager’s stock valued at $2,299,000 after purchasing an additional 4,670 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of T. Rowe Price Group by 2.9% during the 2nd quarter. Atria Investments Inc now owns 7,269 shares of the asset manager’s stock worth $701,000 after purchasing an additional 207 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

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.