T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Morgan Stanley Analyst Says

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target boosted by Morgan Stanley from $95.00 to $104.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the asset manager's stock.

Several other brokerages also recently weighed in on TROW. Evercore ISI lowered their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. TD Cowen reduced 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 report on Wednesday, April 9th. Finally, Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $94.91.

T. Rowe Price Group Stock Up 0.5%

TROW traded up $0.45 during trading on Wednesday, hitting $100.41. 924,241 shares of the stock were exchanged, compared to its average volume of 1,532,940. The firm has a market capitalization of $22.12 billion, a P/E ratio of 11.38, a PEG ratio of 3.21 and a beta of 1.49. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a fifty day moving average price of $94.26 and a two-hundred day moving average price of $99.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for 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 firm's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 earnings per share. Analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.06%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arvest Investments Inc. purchased a new position in T. Rowe Price Group in the second quarter valued at about $903,000. City Center Advisors LLC purchased a new position in T. Rowe Price Group in the second quarter valued at about $311,000. Harbor Investment Advisory LLC boosted its holdings in T. Rowe Price Group by 2.0% in the second quarter. Harbor Investment Advisory LLC now owns 14,602 shares of the asset manager's stock valued at $1,409,000 after purchasing an additional 284 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in T. Rowe Price Group in the second quarter valued at about $219,000. Finally, Rowlandmiller & PARTNERS.ADV boosted its holdings in T. Rowe Price Group by 2.1% in the second quarter. Rowlandmiller & PARTNERS.ADV now owns 38,995 shares of the asset manager's stock valued at $3,763,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other 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.