T. Rowe Price Group (NASDAQ:TROW) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of T. Rowe Price Group (NASDAQ:TROW) in a research report report published on Friday, Marketbeat reports. The firm issued a market perform rating and a $108.00 price objective on the asset manager’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company raised 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 report on Friday, July 11th. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Barclays restated an “underweight” rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Trading Up 1.5%

TROW stock opened at $103.28 on Friday. The firm has a market cap of $22.69 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.50. The stock has a 50-day moving average price of $105.71 and a 200-day moving average price of $98.06. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

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 the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 earnings per share. On average, analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 56.76%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds have recently bought and sold shares of TROW. Exchange Traded Concepts LLC lifted its position in shares of T. Rowe Price Group by 27.9% during the first 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 in the last quarter. Wealthfront Advisers LLC increased its stake in T. Rowe Price Group by 109.2% in the 1st 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 last quarter. Mather Group LLC. lifted its position in shares of T. Rowe Price Group by 11.9% during the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after buying an additional 14,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of T. Rowe Price Group by 12.8% in the 1st 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 last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of T. Rowe Price Group by 22.9% in the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock valued at $28,373,000 after acquiring an additional 57,503 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other 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.