JPMorgan Chase & Co. Raises T. Rowe Price Group (NASDAQ:TROW) Price Target to $107.00

T. Rowe Price Group (NASDAQ:TROW) had its price target raised by JPMorgan Chase & Co. from $102.00 to $107.00 in a research note released on Tuesday, Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

TROW has been the subject of several other reports. StockNews.com raised shares of T. Rowe Price Group from a hold rating to a buy rating in a research note on Wednesday, July 10th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an in-line rating for the company in a research note on Tuesday, April 30th. Citigroup upped their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a neutral rating in a research report on Friday, April 5th. UBS Group upped 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 report on Friday, April 12th. Finally, TD Cowen upped their price target on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the stock a hold rating in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $113.50.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $112.08 on Tuesday. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock has a fifty day moving average of $116.47 and a two-hundred day moving average of $114.04. The company has a market capitalization of $25.03 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that T. Rowe Price Group will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. T. Rowe Price Group’s payout ratio is currently 58.91%.

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 company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $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 company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction 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 sold a total of 6,444 shares of company stock valued at $740,408 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently modified their holdings of the stock. L. Roy Papp & Associates LLP raised its stake in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of T. Rowe Price Group by 15.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after purchasing an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at about $1,008,000. Nebula Research & Development LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $807,000. Finally, Fisher Asset Management LLC raised its stake in shares of T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.