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

T. Rowe Price Group (NASDAQ:TROWFree Report) had its price objective lifted by UBS Group from $100.00 to $109.00 in a research report sent to investors on Friday morning, Benzinga reports. UBS Group currently has a sell rating on the asset manager’s stock.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an underweight rating in a research report on Friday, February 9th. Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an underperform rating to a market perform rating and lifted their target price for the stock from $106.00 to $120.00 in a research note on Thursday. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a buy rating to a hold rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of Hold and an average target price of $109.56.

View Our Latest Report on TROW

T. Rowe Price Group Stock Down 2.1 %

Shares of NASDAQ TROW opened at $115.19 on Friday. The firm has a market cap of $25.76 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.32 and a beta of 1.40. T. Rowe Price Group has a 52-week low of $87.43 and a 52-week high of $132.76. The company’s 50-day simple moving average is $114.46 and its 200-day simple moving average is $106.54.

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

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Activity

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

Institutional Trading of T. Rowe Price Group

A number of large investors have recently bought and sold shares of the business. Simmons Bank raised its position in T. Rowe Price Group by 23.0% during the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after buying an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP increased its holdings in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC increased its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of T. Rowe Price Group by 11.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock valued at $31,235,000 after purchasing an additional 30,899 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

(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.

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

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