T. Rowe Price Group (NASDAQ:TROW) Research Coverage Started at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of T. Rowe Price Group (NASDAQ:TROW) in a report released on Friday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $108.00 target price on the asset manager’s stock.

Other analysts have also issued research reports about the company. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Barclays restated an “underweight” rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $103.28 on Friday. The firm has a market capitalization of $22.69 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 6.68 and a beta of 1.50. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $125.81. The firm has a fifty day moving average of $105.71 and a 200 day moving average of $98.13.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its position in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the 1st quarter worth about $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.