T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $109.00

T. Rowe Price Group (NASDAQ:TROW) had its target price hoisted by UBS Group from $100.00 to $109.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a sell rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the company. TD Cowen upgraded T. Rowe Price Group from a sell rating to a hold rating and increased their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a report on Friday, February 9th. Citigroup boosted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an underperform rating to a market perform rating and raised their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a buy rating to a hold rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $109.56.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $114.25 on Friday. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The firm has a market cap of $25.55 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.22 and a beta of 1.40. The stock’s 50-day moving average is $114.58 and its 200-day moving average is $106.61.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.74 EPS. Equities analysts anticipate that T. Rowe Price Group will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $25,000. Creative Financial Designs Inc. ADV grew its stake in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in T. Rowe Price Group in the 2nd quarter valued at about $26,000. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $31,000. Finally, Park Place Capital Corp lifted its holdings in shares of 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 acquiring an additional 284 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.