T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $129.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target upped by Morgan Stanley from $127.00 to $129.00 in a report released on Monday, Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other brokerages also recently weighed in on TROW. Barclays boosted their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. TD Cowen dropped their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Trading Up 0.4 %

Shares of T. Rowe Price Group stock opened at $112.49 on Monday. T. Rowe Price Group has a 12-month low of $90.02 and a 12-month high of $122.27. The stock has a market cap of $25.04 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The company has a 50-day moving average of $108.38 and a two-hundred day moving average of $111.71.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.46% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.41%. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This 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 currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TROW. Keystone Financial Services grew its holdings in shares of T. Rowe Price Group by 5.1% during the third 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. WCM Investment Management LLC raised its holdings in T. Rowe Price Group by 341.0% in the third quarter. WCM Investment Management LLC now owns 14,972 shares of the asset manager’s stock worth $1,640,000 after purchasing an additional 11,577 shares in the last quarter. Versor Investments LP raised its holdings in T. Rowe Price Group by 80.8% in the third quarter. Versor Investments LP now owns 23,500 shares of the asset manager’s stock worth $2,560,000 after purchasing an additional 10,500 shares in the last quarter. Delta Financial Advisors LLC increased its holdings in shares of T. Rowe Price Group by 25.6% during the third quarter. Delta Financial Advisors LLC now owns 10,132 shares of the asset manager’s stock valued at $1,104,000 after acquiring an additional 2,065 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in shares of T. Rowe Price Group by 9.1% during the third quarter. Sigma Planning Corp now owns 13,676 shares of the asset manager’s stock valued at $1,490,000 after buying an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors 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.