T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its target price raised by JPMorgan Chase & Co. from $90.00 to $98.00 in a report released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the asset manager's stock.

Other equities analysts have also issued reports about the company. Bank of America reduced their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company upped their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Citigroup reduced their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. 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. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and a consensus target price of $96.64.

T. Rowe Price Group Stock Performance

TROW traded up $3.36 during midday trading on Wednesday, reaching $106.41. 2,356,036 shares of the company were exchanged, compared to its average volume of 1,561,756. The company's fifty day moving average price is $96.37 and its 200 day moving average price is $98.97. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.38 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TROW. Norges Bank bought a new position in T. Rowe Price Group in the fourth quarter valued at $117,704,000. Invesco Ltd. increased its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Marshall Wace LLP bought a new position in T. Rowe Price Group in the fourth quarter valued at $63,284,000. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after buying an additional 519,075 shares during the last quarter. Finally, Fayez Sarofim & Co grew its stake in shares of T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares during the last quarter. Institutional investors 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.