T. Rowe Price Group (NASDAQ:TROW) PT Raised to $108.00 at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROWFree Report) had its price objective raised by Wells Fargo & Company from $105.00 to $108.00 in a report issued on Friday, Benzinga reports. The firm currently has an underweight rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on TROW. TD Cowen initiated coverage on T. Rowe Price Group in a research report on Thursday, January 4th. They issued an underperform rating and a $88.00 price objective on the stock. Citigroup raised T. Rowe Price Group from a sell rating to a neutral rating and cut their price objective for the stock from $100.00 to $95.00 in a research report on Tuesday, October 31st. Morgan Stanley boosted their target price on T. Rowe Price Group from $101.00 to $106.00 and gave the company an equal weight rating in a research note on Friday, January 19th. UBS Group boosted their target price on T. Rowe Price Group from $86.00 to $102.00 and gave the company a sell rating in a research note on Wednesday, January 10th. Finally, StockNews.com lowered T. Rowe Price Group from a buy rating to a hold rating in a research note on Friday. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of Reduce and an average target price of $97.30.

Check Out Our Latest Stock Analysis on TROW

T. Rowe Price Group Trading Up 3.4 %

Shares of T. Rowe Price Group stock opened at $109.99 on Friday. The stock has a fifty day simple moving average of $107.20 and a 200 day simple moving average of $105.34. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a market capitalization of $24.54 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.50% and a net margin of 27.69%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. T. Rowe Price Group’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group will post 7.41 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a $1.24 dividend. The ex-dividend date is Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.51%. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Activity

In other news, insider William J. Stromberg sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $98.48, for a total transaction of $984,800.00. Following the completion of the transaction, the insider now owns 49,000 shares of the company’s stock, valued at $4,825,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Stromberg sold 10,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $98.48, for a total transaction of $984,800.00. Following the completion of the transaction, the insider now directly owns 49,000 shares in the company, valued at approximately $4,825,520. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,458 shares of company stock worth $7,359,792. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $208,014,000. International Assets Investment Management LLC boosted its stake in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after purchasing an additional 892,198 shares in the last quarter. UBS Group AG boosted its stake in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in T. Rowe Price Group during the 2nd quarter valued at $69,862,000. Institutional investors own 75.85% of the company’s stock.

T. Rowe Price Group Company Profile

(Get Free Report)

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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