T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $110.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by BMO Capital Markets from $108.00 to $110.00 in a research report report published on Tuesday morning,MarketScreener reports. They currently have a market perform rating on the asset manager’s stock.

TROW has been the subject of a number of other reports. Barclays reduced their price objective on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Jefferies Financial Group upped their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a research report on Friday, December 5th. Finally, TD Cowen reduced their target price on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating for the company in a report on Wednesday. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $107.54.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $107.32 on Tuesday. The firm has a market cap of $23.42 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.69 and a beta of 1.52. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $118.32. The firm’s 50 day moving average price is $103.61 and its two-hundred day moving average price is $104.23.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $2.57 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Woodline Partners LP grew its stake in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after buying an additional 5,467 shares during the last quarter. Focus Partners Wealth boosted its holdings in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares during the period. Voya Investment Management LLC grew its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Voya Investment Management LLC now owns 67,421 shares of the asset manager’s stock valued at $6,194,000 after purchasing an additional 593 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of T. Rowe Price Group by 27.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,017 shares of the asset manager’s stock valued at $98,000 after purchasing an additional 217 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of T. Rowe Price Group by 5.3% in the second quarter. Czech National Bank now owns 53,853 shares of the asset manager’s stock worth $5,197,000 after purchasing an additional 2,718 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Key T. Rowe Price Group News

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Evercore raised its price target to $116 (from $115), signaling upside potential and supporting the stock’s gains today. Evercore Raises PT to $116
• Positive Sentiment: BMO lifted its price target to $110 and kept a market-perform rating, a modest endorsement that helps support the stock. BMO Raises PT to $110
• Positive Sentiment: Zacks highlights T. Rowe’s history of earnings beats and suggests the company has the setup to beat again, which supports investor sentiment heading into future reports. Zacks: Earnings Beat Setup
• Positive Sentiment: Coverage pieces (Zacks/MSN) promoting T. Rowe as a strong growth stock add to bullish retail/institutional interest. MSN: Growth Thesis
• Neutral Sentiment: TD Cowen trimmed its target slightly to $109 (from $112) and kept a hold rating; this is largely neutral for immediate price direction given the small implied upside. TD Cowen Lowers PT to $109
• Negative Sentiment: Goldman Sachs cut its price target to $95 and maintained a “sell” rating — the most bearish call among recent notes and a key reason some selling pressure is present. Goldman Lowers PT to $95, Sells
• Negative Sentiment: Barclays trimmed its target to $101 and kept an underweight call, and Bank of America’s $86 target (raised marginally from $85) still implies substantial downside — both add downward pressure versus the current price. Barclays/BoA Targets

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.