T. Rowe Price Group (NASDAQ:TROW) Upgraded to "Hold" by TD Cowen

TD Cowen upgraded shares of T. Rowe Price Group (NASDAQ:TROW - Free Report) from a sell rating to a hold rating in a report published on Monday, MarketBeat reports. The firm currently has $114.00 price target on the asset manager's stock, up from their prior price target of $92.00.

A number of other research firms have also recently commented on TROW. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an underweight rating in a research report on Friday, February 9th. StockNews.com lowered shares of T. Rowe Price Group from a buy rating to a hold rating in a research report on Friday, February 9th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the stock an equal weight rating in a research note on Friday, January 19th. Finally, UBS Group upped their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the company a sell rating in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $106.33.

T. Rowe Price Group Trading Up 0.8 %

NASDAQ:TROW traded up $0.91 during trading hours on Monday, hitting $117.55. 956,604 shares of the company were exchanged, compared to its average volume of 1,384,764. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The company has a fifty day simple moving average of $113.87 and a 200 day simple moving average of $106.18.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.74 EPS. Equities research analysts predict that T. Rowe Price Group will post 7.79 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.22%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group's payout ratio is 63.92%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new stake in T. Rowe Price Group during the first quarter worth about $150,000. Roundview Capital LLC acquired a new stake in T. Rowe Price Group during the first quarter worth about $2,092,000. Cibc World Market Inc. increased its position in T. Rowe Price Group by 75.9% during the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager's stock worth $4,092,000 after purchasing an additional 11,675 shares during the last quarter. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager's stock worth $175,099,000 after purchasing an additional 60,580 shares during the last quarter. Finally, Prudential PLC increased its position in shares of T. Rowe Price Group by 47.1% during the first quarter. Prudential PLC now owns 12,117 shares of the asset manager's stock valued at $1,832,000 after acquiring an additional 3,880 shares during 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.