T. Rowe Price Group’s (TROW) “Underweight” Rating Reiterated at Barclays

Barclays restated their underweight rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a research note issued to investors on Monday, Marketbeat Ratings reports. Barclays currently has a $95.00 price target on the asset manager’s stock, up from their previous price target of $91.00.

TROW has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Citigroup lowered their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Evercore ISI increased their price target on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.09.

T. Rowe Price Group Stock Down 0.2%

Shares of NASDAQ:TROW opened at $105.42 on Monday. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The business has a 50 day moving average of $99.07 and a 200-day moving average of $98.27. The stock has a market cap of $23.16 billion, a PE ratio of 11.78, a P/E/G ratio of 2.87 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $2.26 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. AGF Management Ltd. bought a new position in shares of T. Rowe Price Group during the second quarter valued at $217,000. Summit Investment Advisors Inc. increased its holdings in T. Rowe Price Group by 10.9% in the first quarter. Summit Investment Advisors Inc. now owns 15,260 shares of the asset manager’s stock valued at $1,402,000 after purchasing an additional 1,503 shares during the period. AE Wealth Management LLC raised its position in T. Rowe Price Group by 11,027.9% during the 2nd quarter. AE Wealth Management LLC now owns 245,037 shares of the asset manager’s stock worth $23,646,000 after purchasing an additional 242,835 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in T. Rowe Price Group by 3.5% during the 2nd quarter. Wedbush Securities Inc. now owns 8,307 shares of the asset manager’s stock worth $802,000 after buying an additional 281 shares during the period. Finally, Twin Capital Management Inc. grew its position in shares of T. Rowe Price Group by 1.7% in the 2nd quarter. Twin Capital Management Inc. now owns 30,610 shares of the asset manager’s stock valued at $2,954,000 after buying an additional 498 shares during the last quarter. 73.39% 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.