T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $112.00 at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by Wells Fargo & Company from $109.00 to $112.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

A number of other equities analysts have also commented on the stock. Evercore ISI increased their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an in-line rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an underweight rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a hold rating in a report on Thursday, August 15th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a hold rating on the stock in a report on Monday, July 29th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a buy rating to a hold rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of Hold and a consensus target price of $112.64.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $108.98 on Wednesday. The company’s fifty day moving average price is $106.75 and its 200-day moving average price is $112.32. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.79 and a beta of 1.41. T. Rowe Price Group has a one year low of $87.43 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 EPS. As a group, equities research analysts expect that T. Rowe Price Group will post 9.02 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.55%. T. Rowe Price Group’s payout ratio is currently 58.56%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of 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 corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake 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 worth $40,000 after acquiring an additional 160 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.