T. Rowe Price Group (NASDAQ:TROW) had its target price increased by Morgan Stanley from $113.00 to $117.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the asset manager’s stock.
A number of other research firms have also recently commented on TROW. Citigroup cut shares of Apergy from a buy rating to a neutral rating and lowered their price target for the stock from $41.00 to $34.00 in a report on Tuesday. Gabelli reaffirmed a buy rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. UBS Group lifted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a neutral rating in a report on Monday. Bank of America set a $180.00 price target on shares of CME Group and gave the stock a hold rating in a report on Tuesday, April 9th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. T. Rowe Price Group has a consensus rating of Hold and a consensus price target of $107.83.
Shares of NASDAQ TROW opened at $109.32 on Tuesday. T. Rowe Price Group has a twelve month low of $84.59 and a twelve month high of $125.35. The business has a 50 day simple moving average of $106.25. The stock has a market cap of $25.88 billion, a P/E ratio of 15.29, a PEG ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.74 and a quick ratio of 3.74.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.78%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.
In other T. Rowe Price Group news, VP Scott B. David sold 45,118 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the sale, the vice president now owns 48,454 shares of the company’s stock, valued at approximately $5,227,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary K. Bush sold 3,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction of $374,710.00. Following the sale, the director now directly owns 19,243 shares in the company, valued at approximately $2,060,155.58. The disclosure for this sale can be found here. Insiders sold a total of 68,618 shares of company stock worth $7,400,440 in the last ninety days. 3.10% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of TROW. Adirondack Trust Co. raised its holdings in T. Rowe Price Group by 606.1% during the 1st quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Advisory Alpha LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at $27,000. LFA Lugano Financial Advisors SA bought a new stake in T. Rowe Price Group during the 1st quarter valued at $29,000. Trustcore Financial Services LLC raised its holdings in T. Rowe Price Group by 353.8% during the 1st quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 230 shares during the period. Finally, Spectrum Management Group Inc. raised its holdings in T. Rowe Price Group by 105.3% during the 1st quarter. Spectrum Management Group Inc. now owns 308 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 158 shares during the period. 69.32% of the stock is currently 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.
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