Keefe, Bruyette & Woods Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $116.00

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its target price increased by Keefe, Bruyette & Woods from $114.00 to $116.00 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager's stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. 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. Barclays raised their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a report on Thursday, October 3rd. 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 presently has a consensus rating of "Hold" and a consensus price target of $117.00.

T. Rowe Price Group Trading Up 2.8 %

NASDAQ:TROW traded up $3.15 during trading hours on Friday, hitting $116.12. 4,136,218 shares of the stock were exchanged, compared to its average volume of 1,290,846. The firm's fifty day moving average price is $117.50 and its 200 day moving average price is $113.24. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a market cap of $25.80 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.73 and a beta of 1.42.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's payout ratio is 54.27%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds have recently added to or reduced their stakes in TROW. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock worth $43,373,000 after buying an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $745,169,000 after buying an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock worth $52,032,000 after acquiring an additional 196,565 shares in the last quarter. 73.39% of the stock is currently 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.