Wells Fargo & Company Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by Wells Fargo & Company from $109.00 to $112.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other equities research analysts also recently issued reports on the company. Barclays initiated coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an underweight rating and a $99.00 price target on the stock. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a hold rating on the stock in a research report on Monday, July 29th. StockNews.com downgraded T. Rowe Price Group from a buy rating to a hold rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a hold rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a sell rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $112.64.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $108.98 on Wednesday. The company has a market capitalization of $24.26 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.78 and a beta of 1.41. T. Rowe Price Group has a one year low of $87.43 and a one year high of $122.27. The company’s fifty day moving average price is $106.70 and its two-hundred day moving average price is $112.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.02 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.55%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.56%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $36,000. Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.