T. Rowe Price Group (NASDAQ:TROW) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a report released on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $120.00 price objective on the asset manager’s stock, down from their prior price objective of $121.00.

A number of other brokerages have also issued reports on TROW. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a sell rating in a research note on Friday, April 12th. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an equal weight rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an underweight rating in a report on Tuesday, July 23rd. TD Cowen lifted their price objective on T. Rowe Price Group from $121.00 to $123.00 and gave the company a hold rating in a research note on Monday, July 8th. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an in-line rating on the stock in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $114.56.

T. Rowe Price Group Stock Down 1.9 %

Shares of T. Rowe Price Group stock opened at $112.03 on Monday. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $122.27. The firm has a market capitalization of $24.94 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.74 and a beta of 1.42. The firm’s 50 day moving average is $116.13 and its two-hundred day moving average is $114.17.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company posted $2.02 earnings per share. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group will post 9.01 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TROW. Assenagon Asset Management S.A. boosted its stake in T. Rowe Price Group by 36.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 32,019 shares of the asset manager’s stock valued at $3,448,000 after purchasing an additional 8,545 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of T. Rowe Price Group by 37.1% in the 4th quarter. Global Retirement Partners LLC now owns 5,404 shares of the asset manager’s stock valued at $576,000 after purchasing an additional 1,462 shares during the period. Caprock Group LLC raised its holdings in 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 buying an additional 101 shares during the period. Wendell David Associates Inc. acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth about $311,000. Finally, TIAA Trust National Association grew its position in T. Rowe Price Group by 41.3% during the 4th quarter. TIAA Trust National Association now owns 4,644 shares of the asset manager’s stock worth $500,000 after purchasing an additional 1,357 shares in the last quarter. Institutional investors and hedge funds 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.