Bank of America set a $112.00 price objective on T. Rowe Price Group (NASDAQ:TROW) in a report issued on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the asset manager’s stock.

TROW has been the subject of a number of other reports. BidaskClub raised T. Rowe Price Group from a strong sell rating to a sell rating in a research report on Wednesday, January 16th. Evercore ISI raised T. Rowe Price Group from an in-line rating to an outperform rating and set a $99.00 price objective for the company in a research report on Thursday, January 31st. Wells Fargo & Co raised their price objective on T. Rowe Price Group from $92.00 to $102.00 and gave the stock a market perform rating in a research report on Wednesday, February 27th. Morgan Stanley cut their price objective on T. Rowe Price Group from $105.00 to $98.00 and set an equal weight rating for the company in a research report on Friday, January 4th. Finally, Citigroup raised their price objective on T. Rowe Price Group from $91.00 to $98.00 and gave the stock a neutral rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of Hold and an average price target of $105.33.

Shares of NASDAQ:TROW opened at $104.75 on Tuesday. The stock has a market cap of $24.57 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. T. Rowe Price Group has a 12-month low of $84.59 and a 12-month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, January 30th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 earnings per share. Analysts predict that T. Rowe Price Group will post 6.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.76 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s payout ratio is currently 42.52%.

In other T. Rowe Price Group news, insider Edward C. Bernard sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the completion of the transaction, the insider now directly owns 651,532 shares of the company’s stock, valued at approximately $63,296,333.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP W. Sharps Robert sold 2,617 shares of T. Rowe Price Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total value of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at $45,192,615.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,082 shares of company stock valued at $11,361,948. 3.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Reilly Financial Advisors LLC boosted its stake in shares of T. Rowe Price Group by 66.3% in the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after buying an additional 118 shares during the period. Ruggie Capital Group purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $28,000. Financial Gravity Companies Inc. purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $30,000. Pearl River Capital LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Finally, Rational Advisors LLC boosted its stake in shares of T. Rowe Price Group by 306.7% in the 4th quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock valued at $34,000 after buying an additional 276 shares during the period. 72.65% of the stock is owned by institutional investors.

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.

Further Reading: Purposes and Functions of the Federal Reserve

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.