Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group (NASDAQ:TROW) had its price objective upped by Keefe, Bruyette & Woods from $114.00 to $116.00 in a report issued on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager’s stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley increased their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. 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 report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their target price on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Stock Up 2.8 %

Shares of NASDAQ TROW opened at $116.12 on Friday. The stock has a market capitalization of $25.80 billion, a P/E ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. The stock’s 50 day moving average price is $117.50 and its two-hundred day moving average price is $113.22. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. On average, analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.27%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Insight Folios Inc raised its holdings in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 90 shares during the period. Keystone Financial Services grew its position in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares in the last quarter. Nvwm LLC raised its stake in T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares during the period. Strategy Asset Managers LLC lifted its holdings in shares of T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after buying an additional 99 shares during the period. 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.