T. Rowe Price Group (NASDAQ:TROW) PT Lowered to $102.00

T. Rowe Price Group (NASDAQ:TROW) had its price target trimmed by The Goldman Sachs Group from $106.00 to $102.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a sell rating on the asset manager’s stock.

TROW has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an underweight rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a hold rating in a research note on Thursday, August 15th. Evercore ISI cut their target price on T. Rowe Price Group from $115.00 to $108.00 and set an in-line rating for the company in a research report on Thursday, September 5th. Keefe, Bruyette & Woods restated a market perform rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a buy rating to a hold rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of Hold and an average price target of $112.36.

T. Rowe Price Group Price Performance

TROW opened at $108.47 on Thursday. The business has a fifty day simple moving average of $107.17 and a 200 day simple moving average of $112.71. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $122.27. The company has a market capitalization of $24.22 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $2.02 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed 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. This represents a $4.96 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. 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 insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group in the second quarter worth $29,000. Family Firm Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter worth about $36,000. Versant Capital Management Inc lifted its holdings in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares during the period. EverSource Wealth Advisors LLC grew its position 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 last quarter. Finally, Riverview Trust Co increased its stake in shares of T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after buying an additional 206 shares during the period. 73.39% of the stock is currently 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.