T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $104.00 by Analysts at BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) had its target price lowered by BMO Capital Markets from $110.00 to $104.00 in a research report released on Thursday morning,MarketScreener reports. The brokerage currently has a market perform rating on the asset manager’s stock.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research note on Thursday, February 5th. Citigroup lifted their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Barclays set a $94.00 target price on T. Rowe Price Group in a research report on Thursday, February 5th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a report on Thursday, February 5th. Finally, Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $102.50.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $93.16 on Thursday. The stock has a market cap of $20.33 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The stock’s 50-day moving average is $103.66 and its two-hundred day moving average is $104.12.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.6%. T. Rowe Price Group’s payout ratio is presently 54.92%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TROW. TD Waterhouse Canada Inc. lifted its holdings in T. Rowe Price Group by 66.7% during 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. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter worth about $30,000. Finally, Canton Hathaway LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth about $31,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile

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.