T. Rowe Price Group (NASDAQ:TROW) Given New $166.00 Price Target at Morgan Stanley


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T. Rowe Price Group (NASDAQ:TROW) had its price objective increased by Morgan Stanley from $152.00 to $166.00 in a report released on Monday, Analyst Ratings Network reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group upgraded shares of T. Rowe Price Group from a sell rating to a neutral rating and raised their target price for the stock from $134.00 to $170.00 in a research note on Tuesday, January 5th. Bank of America cut shares of T. Rowe Price Group from a buy rating to a neutral rating and set a $154.00 target price on the stock. in a research note on Thursday, November 19th. Zacks Investment Research raised shares of T. Rowe Price Group from a hold rating to a buy rating and set a $158.00 price objective for the company in a report on Friday, December 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $145.00 to $150.00 in a report on Wednesday, November 11th. Finally, BidaskClub lowered shares of T. Rowe Price Group from a buy rating to a hold rating in a report on Thursday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $134.92.

T. Rowe Price Group stock opened at $157.20 on Monday. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.64 and a beta of 1.15. The stock has a fifty day simple moving average of $150.10 and a two-hundred day simple moving average of $138.31. T. Rowe Price Group has a 12 month low of $82.51 and a 12 month high of $159.68.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.02. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group will post 8.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, December 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is 44.61%.

In other news, VP Christopher D. Alderson sold 2,043 shares of T. Rowe Price Group stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $149.07, for a total transaction of $304,550.01. Following the completion of the sale, the vice president now directly owns 332,256 shares in the company, valued at $49,529,401.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 8,100 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $149.64, for a total value of $1,212,084.00. Following the completion of the sale, the vice president now owns 336,256 shares of the company’s stock, valued at $50,317,347.84. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC raised its holdings in shares of T. Rowe Price Group by 183.6% in the second quarter. FinTrust Capital Advisors LLC now owns 207 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 134 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $38,000. Prestige Wealth Management Group LLC raised its holdings in shares of T. Rowe Price Group by 76.8% in the third quarter. Prestige Wealth Management Group LLC now owns 297 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 129 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $38,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of T. Rowe Price Group by 44.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 325 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.06% of the company’s stock.

T. Rowe Price Group Company Profile

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.

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

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