UBS Group Raises T. Rowe Price Group (NASDAQ:TROW) Price Target to $109.00

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by UBS Group from $100.00 to $109.00 in a research note issued to investors on Friday, Benzinga reports. UBS Group currently has a sell rating on the asset manager’s stock.

A number of other brokerages have also weighed in on TROW. StockNews.com lowered T. Rowe Price Group from a buy rating to a hold rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an underperform rating to a market perform rating and raised their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $90.00 to $94.00 and gave the stock an underweight rating in a report on Friday, February 9th. Citigroup raised their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a report on Friday, April 5th. Finally, Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of Hold and a consensus price target of $109.56.

T. Rowe Price Group Price Performance

TROW stock opened at $114.25 on Friday. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $132.76. The business has a 50 day simple moving average of $114.58 and a two-hundred day simple moving average of $106.61. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.22 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group will post 8.13 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.34%. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TROW. Massmutual Trust Co. FSB ADV grew its stake in shares of T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares during the period. ST Germain D J Co. Inc. grew its position in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after buying an additional 88 shares during the period. TCM Advisors LLC increased its holdings in T. Rowe Price Group by 1.5% in the first quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager’s stock valued at $779,000 after buying an additional 100 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.