Keefe, Bruyette & Woods Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $111.00

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target cut by Keefe, Bruyette & Woods from $116.00 to $111.00 in a report issued on Monday,Benzinga reports. They currently have a market perform rating on the asset manager's stock.

TROW has been the subject of several other reports. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research note on Thursday, October 3rd. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.55.

T. Rowe Price Group Trading Up 1.9 %

TROW traded up $2.08 on Monday, reaching $110.63. The company had a trading volume of 2,154,840 shares, compared to its average volume of 1,369,406. The company has a market capitalization of $24.58 billion, a P/E ratio of 12.10, a PEG ratio of 1.73 and a beta of 1.43. The company has a fifty day moving average of $118.21 and a 200-day moving average of $112.92. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business's revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $2.17 earnings per share. Research analysts predict that T. Rowe Price Group will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group's dividend payout ratio is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. International Assets Investment Management LLC increased its stake in T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock valued at $116,300,000 after acquiring an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock worth $745,169,000 after buying an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock worth $185,810,000 after buying an additional 220,105 shares during the period. Finally, AQR Capital Management LLC boosted its stake in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after buying an additional 196,565 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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.