TD Cowen Raises T. Rowe Price Group (NASDAQ:TROW) Price Target to $123.00

T. Rowe Price Group (NASDAQ:TROWFree Report) had its price target hoisted by TD Cowen from $121.00 to $123.00 in a research note released on Monday, Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an underperform rating to a market perform rating and increased their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an underweight rating in a report on Tuesday, April 16th. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a neutral rating in a report on Friday, April 5th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Finally, Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an in-line rating on the stock in a research report on Tuesday, April 30th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of Hold and a consensus target price of $113.00.

Get Our Latest Stock Report on T. Rowe Price Group

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $116.08 on Monday. The stock’s fifty day moving average is $115.59 and its 200 day moving average is $113.32. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm has a market capitalization of $25.92 billion, a PE ratio of 13.79, a PEG ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $1.69 EPS. T. Rowe Price Group’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 in the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Large investors have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $29,000. First United Bank & Trust purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $31,000. Park Place Capital Corp grew its position in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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