T. Rowe Price Group (NASDAQ:TROW) Stock Gets Price Target Trim from BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) had its price objective trimmed by BMO Capital Markets from $120.00 to $110.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a market perform rating on the asset manager’s stock.

TROW has been the topic of several other research reports. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. TD Cowen decreased their price objective on T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday. Morgan Stanley lowered their target price on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, September 25th. Finally, Barclays decreased their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $104.08.

T. Rowe Price Group Trading Up 1.8%

Shares of TROW stock opened at $101.37 on Tuesday. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 4.33 and a beta of 1.45. The stock’s 50-day moving average price is $107.53 and its 200-day moving average price is $106.71. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted $2.24 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group will post 10.10 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC lifted its holdings in T. Rowe Price Group by 173.0% in the third quarter. Elevation Wealth Partners LLC now owns 273 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 173 shares during the period. Motiv8 Investments LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $35,000. Bank & Trust Co lifted its position in shares of T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at $39,000. Finally, Clearstead Trust LLC purchased a new position in shares of T. Rowe Price Group in the second quarter worth about $41,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

More T. Rowe Price Group News

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price’s latest reported quarter showed solid operating momentum, with earnings and revenue exceeding analyst expectations and revenue rising year over year. That performance may be supporting investor confidence ahead of the next results. T. Rowe Price Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: The company is expanding field-sales coverage and strengthening its wealth-leadership and product-specialist teams. The moves could improve distribution and support asset gathering over time. T. Rowe Price Expands Sales and Wealth Teams
• Neutral Sentiment: Multiple earnings previews indicate that the upcoming report is the main near-term catalyst. Investors will likely focus on earnings, revenue, net flows, fee trends and management’s outlook. T. Rowe Price Earnings Preview: What to Expect
• Neutral Sentiment: Analysts were described as neutral on T. Rowe Price among selected financial stocks, suggesting limited consensus about the shares’ next direction. Analysts Are Neutral on Top Financial Stocks
• Negative Sentiment: Barclays lowered its price target from $103 to $102 and kept an “underweight” rating, implying limited upside from the referenced share price. BMO Capital Markets Cuts T. Rowe Price Price Target
• Negative Sentiment: JPMorgan issued a pessimistic forecast, adding to concerns about valuation, asset flows or the broader outlook for active asset managers. JPMorgan Issues Pessimistic Forecast for T. Rowe Price

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.