T. Rowe Price Group (NASDAQ:TROW) Given New $95.00 Price Target at Citigroup

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target lowered by Citigroup from $100.00 to $95.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the asset manager's stock.

A number of other equities research analysts also recently weighed in on TROW. Bank of America dropped their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Evercore ISI cut their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $96.00.

T. Rowe Price Group Price Performance

TROW traded up $0.74 during trading on Monday, hitting $86.11. The stock had a trading volume of 4,903,880 shares, compared to its average volume of 1,458,199. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50. The company has a 50 day moving average price of $96.11 and a 200-day moving average price of $108.55. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.90%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently added to or reduced their stakes in TROW. Barclays PLC increased its holdings in T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager's stock valued at $89,635,000 after purchasing an additional 98,448 shares during the period. Tudor Financial Inc. acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $668,000. Sanctuary Advisors LLC lifted its stake in shares of T. Rowe Price Group by 6.6% in the third quarter. Sanctuary Advisors LLC now owns 14,644 shares of the asset manager's stock worth $1,755,000 after acquiring an additional 902 shares during the period. World Investment Advisors LLC bought a new stake in T. Rowe Price Group in the third quarter valued at approximately $273,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in T. Rowe Price Group by 191.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,404 shares of the asset manager's stock worth $1,242,000 after purchasing an additional 7,486 shares during the last quarter. 73.39% of the stock is 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.