T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $114.00

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by Deutsche Bank Aktiengesellschaft from $109.00 to $114.00 in a research report sent to investors on Thursday,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

TROW has been the subject of a number of other research reports. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research note on Thursday. Wells Fargo & Company raised 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 research note on Friday, July 11th. Barclays reissued an “underweight” rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price 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. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $104.69.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $101.43 on Thursday. The company has a 50 day moving average price of $105.82 and a 200 day moving average price of $98.46. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market capitalization of $22.29 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 6.54 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $2.26 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction 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 of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently modified their holdings of TROW. TD Waterhouse Canada Inc. lifted its stake in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the 1st quarter worth $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group in the 2nd quarter worth $35,000. 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.