Wells Fargo & Company Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $108.00

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target increased by Wells Fargo & Company from $98.00 to $108.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the asset manager's stock.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Citigroup cut their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th. Finally, Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $95.82.

T. Rowe Price Group Price Performance

TROW stock traded down $1.49 during midday trading on Friday, reaching $101.47. The company had a trading volume of 1,539,992 shares, compared to its average volume of 1,546,969. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market capitalization of $22.36 billion, a P/E ratio of 11.50, a P/E/G ratio of 3.26 and a beta of 1.49. The firm has a 50-day moving average price of $95.44 and a 200-day moving average price of $99.33.

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 analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the company earned $2.38 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.01%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insiders Place Their Bets

In related 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 transaction of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenview Trust co raised its holdings in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after purchasing an additional 92 shares in the last quarter. Strategy Asset Managers LLC raised its holdings in T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after purchasing an additional 108 shares in the last quarter. Cooper Financial Group raised its holdings in T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares in the last quarter. Finally, Associated Banc Corp raised its holdings in T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.