T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $125.00

T. Rowe Price Group (NASDAQ:TROW) had its target price upped by Morgan Stanley from $114.00 to $125.00 in a research note released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

Several other brokerages also recently weighed in on TROW. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an underweight rating in a research note on Tuesday. StockNews.com downgraded T. Rowe Price Group from a buy rating to a hold rating in a research note on Friday, February 9th. TD Cowen upgraded T. Rowe Price Group from a sell rating to a hold rating and lifted their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an underweight rating in a report on Friday, February 9th. Finally, Citigroup raised their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $112.67.

T. Rowe Price Group Trading Up 0.0 %

Shares of TROW stock opened at $108.73 on Wednesday. The business’s 50 day moving average is $114.72 and its two-hundred day moving average is $106.74. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $24.32 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.15 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced 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. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $1.74 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.56%. T. Rowe Price Group’s payout ratio is currently 63.92%.

Insider Buying and Selling

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

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in TROW. Norges Bank acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth $208,014,000. Confluence Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the first quarter valued at $130,386,000. International Assets Investment Management LLC grew its position in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after purchasing an additional 892,198 shares during the period. UBS Group AG grew its position in shares of T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after purchasing an additional 625,340 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.