Morgan Stanley Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by Morgan Stanley from $129.00 to $132.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other analysts have also recently commented on TROW. Wells Fargo & Company upped their target price on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Barclays lifted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Stock Up 2.8 %

T. Rowe Price Group stock opened at $116.12 on Friday. The stock has a market capitalization of $25.80 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The company has a 50 day moving average of $117.50 and a 200-day moving average of $113.24. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. T. Rowe Price Group’s payout ratio is currently 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 on Tuesday, December 10th. The shares were 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 in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Forsta AP Fonden grew its stake in shares of T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the period. Janus Henderson Group PLC boosted its stake in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Savant Capital LLC grew its holdings in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after purchasing an additional 8,816 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in T. Rowe Price Group in the second quarter worth $15,907,000. Finally, Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at $516,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.