T. Rowe Price Group (NASDAQ:TROW) Given New $107.00 Price Target at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target trimmed by Morgan Stanley from $115.00 to $107.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other equities research analysts have also recently issued reports on TROW. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Evercore reduced their price target on shares of T. Rowe Price Group from $106.00 to $99.00 in a report on Friday, March 6th. BMO Capital Markets decreased their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Finally, Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $101.08.

T. Rowe Price Group Stock Down 0.3%

Shares of T. Rowe Price Group stock opened at $89.87 on Wednesday. The stock’s 50-day simple moving average is $94.23 and its 200-day simple moving average is $100.44. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $118.22. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 3.78 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.8%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.22%.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently made changes to their positions in TROW. Fidelis Capital Partners LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter worth approximately $540,000. Greenspring Advisors LLC purchased a new stake in T. Rowe Price Group during the 3rd quarter valued at $1,583,000. First Citizens Bank & Trust Co. raised its holdings in T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock valued at $18,053,000 after buying an additional 103,174 shares during the period. Assenagon Asset Management S.A. lifted its position in T. Rowe Price Group by 43.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock worth $32,021,000 after buying an additional 95,351 shares during the last quarter. Finally, Allen Wealth Management LLC boosted its stake in T. Rowe Price Group by 459.3% during the third quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock worth $1,422,000 after buying an additional 11,378 shares during the period. 73.39% of the stock is currently owned by hedge funds and other 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.