T. Rowe Price Group (NASDAQ:TROW) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of T. Rowe Price Group (NASDAQ:TROW - Free Report) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an underweight rating and a $99.00 price objective on the asset manager's stock.

TROW has been the subject of several other research reports. 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 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. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a hold rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a hold rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an underweight rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $113.10.

T. Rowe Price Group Price Performance

Shares of TROW traded down $1.38 during midday trading on Tuesday, hitting $107.90. 784,512 shares of the company traded hands, compared to its average volume of 1,270,616. T. Rowe Price Group has a one year low of $87.43 and a one year high of $122.27. The firm has a market cap of $24.02 billion, a P/E ratio of 12.81, a PEG ratio of 1.74 and a beta of 1.42. The stock has a 50-day moving average of $112.83 and a 200-day moving average of $113.93.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the company posted $2.02 EPS. The business's revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the business's stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm's stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company's stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. First United Bank & Trust bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after acquiring an additional 284 shares in the last quarter. Finally, Signature Resources Capital Management LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

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.