Keefe, Bruyette & Woods Reaffirms Market Perform Rating for T. Rowe Price Group (NASDAQ:TROW)

Keefe, Bruyette & Woods restated their market perform rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a report released on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has a $120.00 target price on the asset manager’s stock, down from their previous target price of $121.00.

Several other brokerages have also recently commented on TROW. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an in-line rating for the company in a research report on Tuesday, April 30th. StockNews.com raised shares of T. Rowe Price Group from a hold rating to a buy rating in a research report on Wednesday, July 10th. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a research report on Friday, April 5th. TD Cowen lifted their price objective on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the stock a hold rating in a research report on Monday, July 8th. Finally, Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of Hold and a consensus target price of $114.56.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $114.21 on Monday. The stock has a market capitalization of $25.42 billion, a P/E ratio of 13.56, a PEG ratio of 1.70 and a beta of 1.42. The company has a 50 day moving average price of $116.23 and a 200 day moving average price of $114.18. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $128.14.

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 the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $2.02 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.34%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $29,000. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $31,000. Park Place Capital Corp boosted its holdings in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares in the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group during the second quarter worth about $36,000. Finally, Versant Capital Management Inc grew its position in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

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.