T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target Raised to $72.00 at UBS AG

T. Rowe Price Group, Inc. (NASDAQ:TROW) had its price target lifted by UBS AG from $69.00 to $72.00 in a research note released on Friday, October 27th, www.benzinga.com reports. They currently have a sell rating on the asset manager’s stock.

Several other research analysts have also weighed in on TROW. BidaskClub lowered shares of T. Rowe Price Group from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Wells Fargo & Company reissued a market perform rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Zacks Investment Research raised shares of T. Rowe Price Group from a hold rating to a buy rating and set a $98.00 price target on the stock in a research note on Tuesday, September 26th. ValuEngine raised shares of T. Rowe Price Group from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $96.00 price target on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $89.50.

Shares of T. Rowe Price Group (TROW) traded up $1.07 during trading hours on Friday, hitting $94.48. 1,056,200 shares of the stock traded hands, compared to its average volume of 1,684,058. T. Rowe Price Group has a 12 month low of $65.33 and a 12 month high of $97.35. The firm has a market cap of $22,634.18, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.17 EPS. T. Rowe Price Group’s quarterly revenue was up 11.8% compared to the same quarter last year. equities research analysts predict that T. Rowe Price Group will post 5.29 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.41%. T. Rowe Price Group’s payout ratio is 37.38%.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at $713,177.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the sale, the director now directly owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,204 shares of company stock worth $1,640,922. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Cleararc Capital Inc. boosted its position in shares of T. Rowe Price Group by 0.5% in the first quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock valued at $405,000 after acquiring an additional 31 shares during the period. Sheets Smith Wealth Management lifted its position in T. Rowe Price Group by 0.7% during the second quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock worth $393,000 after purchasing an additional 38 shares during the period. Good Life Advisors LLC lifted its position in T. Rowe Price Group by 1.1% during the second quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after purchasing an additional 52 shares during the period. GHP Investment Advisors Inc. lifted its position in T. Rowe Price Group by 0.3% during the second quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after purchasing an additional 53 shares during the period. Finally, Private Trust Co. NA lifted its position in T. Rowe Price Group by 0.8% during the second quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock worth $542,000 after purchasing an additional 60 shares during the period. 72.28% of the stock is owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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