Keefe, Bruyette & Woods Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $111.00

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by Keefe, Bruyette & Woods from $116.00 to $111.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the asset manager’s stock.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Barclays boosted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. TD Cowen dropped their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $116.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $113.32 on Monday. The business has a 50-day moving average of $118.12 and a two-hundred day moving average of $112.86. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.