T. Rowe Price Group (TROW) Price Target Lowered to $112.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target lowered by Morgan Stanley from $115.00 to $112.00 in a research note issued to investors on Tuesday. The brokerage currently has a hold rating on the asset manager’s stock.

A number of other research firms have also recently commented on TROW. ValuEngine raised shares of T. Rowe Price Group from a hold rating to a buy rating in a research report on Friday, February 2nd. BidaskClub cut shares of T. Rowe Price Group from a strong-buy rating to a buy rating in a research report on Wednesday, January 31st. UBS Group raised shares of T. Rowe Price Group from a sell rating to a neutral rating and increased their target price for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Bank of America raised shares of T. Rowe Price Group from a neutral rating to a buy rating and increased their target price for the company from $113.00 to $125.00 in a research report on Monday, January 8th. Finally, Zacks Investment Research raised shares of T. Rowe Price Group from a hold rating to a buy rating and set a $118.00 target price for the company in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $100.60.

Shares of T. Rowe Price Group (TROW) opened at $110.49 on Tuesday. T. Rowe Price Group has a 52-week low of $66.70 and a 52-week high of $120.07. The company has a market cap of $26,547.48, a P/E ratio of 20.18, a P/E/G ratio of 1.24 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 17.9% compared to the same quarter last year. analysts anticipate that T. Rowe Price Group will post 7.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 38.19%.

In other T. Rowe Price Group news, CEO William J. Stromberg sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the transaction, the chief executive officer now owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth V. Moreland sold 8,066 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at approximately $10,494,879.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,980 shares of company stock valued at $20,776,729. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of T. Rowe Price Group by 5.2% in the fourth quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after buying an additional 851,752 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of T. Rowe Price Group by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock worth $1,079,267,000 after purchasing an additional 218,211 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 3,169,650 shares of the asset manager’s stock worth $332,026,000 after purchasing an additional 121,905 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of T. Rowe Price Group by 11.4% during the third quarter. Ameriprise Financial Inc. now owns 1,782,523 shares of the asset manager’s stock worth $161,591,000 after purchasing an additional 182,317 shares during the last quarter. Finally, Provident Trust Co. raised its holdings in shares of T. Rowe Price Group by 1.3% during the fourth quarter. Provident Trust Co. now owns 1,544,881 shares of the asset manager’s stock worth $162,104,000 after purchasing an additional 19,296 shares during the last quarter. 71.89% of the stock is owned by institutional investors and hedge funds.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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