T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by JPMorgan Chase & Co. from $116.00 to $115.00 in a research report report published on Monday, Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI increased their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Morgan Stanley raised their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Stock Up 0.4 %

Shares of NASDAQ:TROW opened at $112.49 on Monday. The stock’s fifty day simple moving average is $108.38 and its 200-day simple moving average is $111.71. T. Rowe Price Group has a 52-week low of $90.02 and a 52-week high of $122.27. The company has a market capitalization of $25.04 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.46% and a net margin of 30.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.41%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its holdings in T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Forsta AP Fonden grew its position in shares of T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares during the period. Mizuho Markets Americas LLC grew its position in shares of T. Rowe Price Group by 90.0% during the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares during the period. Savant Capital LLC grew its holdings in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after purchasing an additional 8,816 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in T. Rowe Price Group by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after buying an additional 6,780 shares in the last quarter. 73.39% of the stock is owned by 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.