T. Rowe Price Group (NASDAQ:TROW) Price Target Increased to $111.00 by Analysts at UBS Group

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by UBS Group from $109.00 to $111.00 in a research report sent to investors on Monday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the asset manager’s stock.

Several other research firms have also commented on TROW. Zacks Investment Research upgraded shares of IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Gabelli restated a buy rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. Bank of America set a $180.00 price target on shares of CME Group and gave the company a hold rating in a research report on Tuesday, April 9th. Finally, Citigroup raised their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company a neutral rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $107.83.

Shares of T. Rowe Price Group stock opened at $109.32 on Monday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $106.25. T. Rowe Price Group has a 1 year low of $84.59 and a 1 year high of $125.35. The stock has a market capitalization of $25.85 billion, a PE ratio of 15.29, a PEG ratio of 1.62 and a beta of 1.07.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group will post 7.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.04 annualized dividend and a yield of 2.78%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

In other news, Director Mary K. Bush sold 3,500 shares of T. Rowe Price Group stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $107.06, for a total value of $374,710.00. Following the sale, the director now owns 19,243 shares in the company, valued at $2,060,155.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott B. David sold 45,118 shares of T. Rowe Price Group stock in a transaction dated 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 completion of the sale, the vice president now owns 48,454 shares in the company, valued at approximately $5,227,217.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,618 shares of company stock worth $7,400,440. 3.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC grew its position in shares of T. Rowe Price Group by 0.7% in the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock valued at $1,344,000 after purchasing an additional 96 shares during the period. Curbstone Financial Management Corp grew its position in shares of T. Rowe Price Group by 1.3% in the first quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock valued at $760,000 after purchasing an additional 100 shares during the period. Unison Advisors LLC grew its position in shares of T. Rowe Price Group by 0.7% in the second quarter. Unison Advisors LLC now owns 13,584 shares of the asset manager’s stock valued at $1,490,000 after purchasing an additional 100 shares during the period. Mid Atlantic Financial Management Inc. ADV grew its position in shares of T. Rowe Price Group by 1.4% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock valued at $736,000 after purchasing an additional 103 shares during the period. Finally, ETF Managers Group LLC grew its position in shares of T. Rowe Price Group by 8.6% in the first quarter. ETF Managers Group LLC now owns 1,344 shares of the asset manager’s stock valued at $135,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 69.32% 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.

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

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