T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $89.00 at TD Cowen

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target trimmed by TD Cowen from $112.00 to $89.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the asset manager's stock.

Several other research firms have also recently commented on TROW. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a research note on Thursday, April 3rd. Citigroup dropped their price objective on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $100.09.

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T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.58 during trading on Wednesday, reaching $89.32. The company's stock had a trading volume of 2,388,906 shares, compared to its average volume of 1,441,451. The firm has a market cap of $19.85 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business's fifty day moving average price is $97.98 and its 200-day moving average price is $109.16. 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the business posted $1.72 EPS. Sell-side analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.69%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43 % 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.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in T. Rowe Price Group during the fourth quarter worth $117,704,000. Marshall Wace LLP bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $63,284,000. Fayez Sarofim & Co increased its position in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares during the last quarter. Amundi raised its holdings in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in T. Rowe Price Group by 28.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. 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.