T. Rowe Price Group (NASDAQ:TROW) Given New $95.00 Price Target at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its target price decreased by Keefe, Bruyette & Woods from $110.00 to $95.00 in a research report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager’s stock.

TROW has been the subject of several other research reports. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Bank of America increased their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Finally, Argus raised shares of T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $98.00.

T. Rowe Price Group Trading Up 2.9%

T. Rowe Price Group stock opened at $91.81 on Wednesday. T. Rowe Price Group has a 12-month low of $79.06 and a 12-month high of $118.22. The stock has a market cap of $19.98 billion, a P/E ratio of 9.93, a PEG ratio of 3.80 and a beta of 1.50. The company has a 50-day moving average price of $92.65 and a 200 day moving average price of $99.93.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business posted $2.12 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. T. Rowe Price Group’s payout ratio is 56.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TROW. Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares during the period. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after purchasing an additional 1,832,231 shares during the period. Norges Bank purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $61,073,000. Finally, Caisse de depot et placement du Quebec boosted its stake in shares of T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after purchasing an additional 584,949 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Key Stories Impacting T. Rowe Price Group

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

• Positive Sentiment: Firm refreshed its 529 college-savings offering, reinforcing an education-focused product push that could support future AUM growth and improve long-term valuation prospects. T. Rowe Price 529 Refresh Highlights Education Focus And Valuation Upside Potential
• Neutral Sentiment: Coverage of new private-credit fund launches notes firms are still rolling out products despite rising redemptions in the category; mixed implications for T. Rowe — product expansion opportunity but in a cooling segment. New Private Credit Funds Are Being Launched Even as Redemptions Rise. Here’s Why.
• Negative Sentiment: Goldman Sachs has maintained a sell rating on TROW, keeping a pessimistic near-term forecast that pressures sentiment around the stock. Goldman Sachs Sticks to Its Sell Rating for T Rowe Price (TROW)
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target to $95 and moved to market-perform, reducing implied upside and signaling more cautious near-term expectations. Benzinga
• Negative Sentiment: Jefferies trimmed its target to $91 and kept a hold rating, putting the target roughly at/just below current levels — another datapoint tempering upside. Jefferies Adjusts T. Rowe Price Group Price Target to $91
• Negative Sentiment: Analysis arguing outflows are becoming structural for T. Rowe raises concern about sustained AUM declines and fee pressure, a direct profit and valuation risk. T. Rowe Price: Outflows Are Increasingly Structural
• Negative Sentiment: Separate coverage reiterates Goldman’s pessimistic forecast for TROW shares, reinforcing negative analyst tone that can amplify selling pressure. The Goldman Sachs Group Issues Pessimistic Forecast for T. Rowe Price Group

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.