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

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its target price hoisted by Barclays from $90.00 to $91.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the asset manager's stock.

A number of other equities analysts have also recently issued reports on the company. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Bank of America cut their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley increased their target price on T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company increased their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $96.64.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.09 on Wednesday, reaching $106.50. 636,230 shares of the company's stock were exchanged, compared to its average volume of 1,824,515. The company has a market capitalization of $23.46 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The firm's 50-day moving average is $96.37 and its two-hundred day moving average is $98.97.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the business earned $2.38 EPS. T. Rowe Price Group's quarterly revenue was up .8% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in T. Rowe Price Group by 15.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager's stock valued at $575,000 after buying an additional 669 shares in the last quarter. Natixis Advisors LLC grew its holdings in T. Rowe Price Group by 1.8% during the 4th quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager's stock valued at $5,397,000 after buying an additional 845 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in T. Rowe Price Group by 7.6% during the 4th quarter. Advisors Asset Management Inc. now owns 71,928 shares of the asset manager's stock valued at $8,134,000 after buying an additional 5,110 shares in the last quarter. Horizon Investments LLC grew its holdings in T. Rowe Price Group by 104.0% during the 4th quarter. Horizon Investments LLC now owns 6,160 shares of the asset manager's stock valued at $697,000 after buying an additional 3,141 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $3,273,000. 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.