JPMorgan Chase & Co. Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $103.00

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by JPMorgan Chase & Co. from $94.00 to $103.00 in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the asset manager’s stock.

TROW has been the subject of a number of other reports. TD Cowen upgraded shares of T. Rowe Price Group from a sell rating to a hold rating and upped their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group increased their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a sell rating in a report on Friday, April 12th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an underperform rating to a market perform rating and boosted their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an equal weight rating in a report on Friday, January 19th. Finally, Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $112.67.

T. Rowe Price Group Stock Down 2.4 %

NASDAQ TROW opened at $108.72 on Tuesday. The company has a 50-day simple moving average of $114.67 and a two-hundred day simple moving average of $106.71. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76. The firm has a market cap of $24.31 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.16 and a beta of 1.40.

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

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated 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 owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s 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 completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction on 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 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. 2.00% of the stock is owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. Allspring Global Investments Holdings LLC grew its holdings in shares of T. Rowe Price Group by 6.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,658 shares of the asset manager’s stock valued at $1,665,000 after buying an additional 827 shares during the last quarter. Stewart & Patten Co. LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at approximately $207,000. Congress Wealth Management LLC DE boosted its stake in T. Rowe Price Group by 14.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 86,775 shares of the asset manager’s stock valued at $10,580,000 after purchasing an additional 11,027 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of T. Rowe Price Group by 39.5% in the 1st quarter. Claro Advisors LLC now owns 7,165 shares of the asset manager’s stock worth $874,000 after purchasing an additional 2,029 shares in the last quarter. Finally, LVW Advisors LLC raised its stake in shares of T. Rowe Price Group by 51.1% in the first quarter. LVW Advisors LLC now owns 4,338 shares of the asset manager’s stock worth $529,000 after purchasing an additional 1,468 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.