T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by TD Cowen from $108.00 to $112.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

A number of other equities analysts have also issued reports on the company. Evercore ISI increased their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Bank of America increased their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. BMO Capital Markets began coverage on T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $109.31.

T. Rowe Price Group Trading Up 1.1%

NASDAQ:TROW opened at $102.38 on Monday. The firm has a market capitalization of $22.49 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The stock has a 50 day moving average of $104.67 and a 200-day moving average of $100.55. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its position in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $27,000. Salomon & Ludwin LLC lifted its position in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the last quarter. 73.39% 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.