T. Rowe Price Group (NASDAQ:TROW) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of T. Rowe Price Group (NASDAQ:TROW) to a hold rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. 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. Barclays restated an “underweight” rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. One investment 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. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $104.08.

T. Rowe Price Group Stock Up 1.5%

TROW opened at $103.28 on Thursday. The firm has a market cap of $22.69 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 2.66 and a beta of 1.50. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company’s 50-day moving average price is $105.71 and its 200 day moving average price is $98.09.

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, topping the consensus estimate 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 19.77%. T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 earnings per share. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. 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 dividend payout ratio is presently 56.76%.

Insider Transactions at T. Rowe Price Group

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in shares of 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 worth $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after purchasing an additional 36,190 shares during the last quarter. Mather Group LLC. increased its stake 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 purchasing an additional 14,371 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of T. Rowe Price Group by 12.8% during 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 purchasing an additional 24,323 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of T. Rowe Price Group by 22.9% during the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock worth $28,373,000 after purchasing an additional 57,503 shares during the last quarter. 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.