T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $108.00 by Analysts at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target trimmed by Evercore ISI from $115.00 to $108.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the asset manager's stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an underweight rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an underweight rating and a $99.00 price target on the stock. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a hold rating on the stock in a report on Monday, July 29th. Finally, StockNews.com downgraded T. Rowe Price Group from a buy rating to a hold rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $113.20.

T. Rowe Price Group Price Performance

TROW stock traded down $0.50 during midday trading on Thursday, hitting $104.12. The stock had a trading volume of 775,742 shares, compared to its average volume of 1,272,394. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. The business has a 50-day moving average of $111.17 and a two-hundred day moving average of $113.81. T. Rowe Price Group has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS 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 company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Research analysts predict that T. Rowe Price Group will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company's stock, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred 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 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 is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company's stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently bought and sold shares of TROW. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $29,000. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth $31,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Versant Capital Management Inc lifted its holdings 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 buying an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager's stock worth $40,000 after buying an additional 160 shares during the period. 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.