T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $111.00 at JPMorgan Chase & Co.

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by JPMorgan Chase & Co. from $109.00 to $111.00 in a report published on Monday,Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

Other research analysts have also issued reports about the company. Morgan Stanley upped their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Bank of America upped their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Wells Fargo & Company upped their target price on 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. BMO Capital Markets assumed coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Finally, Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and a consensus target price of $108.08.

T. Rowe Price Group Trading Down 0.8%

NASDAQ:TROW opened at $101.71 on Monday. The business’s fifty day moving average price is $104.96 and its 200 day moving average price is $100.43. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company posted $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in T. Rowe Price Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after purchasing an additional 130,325 shares during the period. State Street Corp boosted its stake in T. Rowe Price Group by 1.5% during the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after purchasing an additional 140,385 shares during the period. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after purchasing an additional 197,024 shares during the period. Finally, Invesco Ltd. boosted its stake in T. Rowe Price Group by 0.3% during the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock valued at $332,415,000 after purchasing an additional 11,036 shares during the period. Institutional investors 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.