T. Rowe Price Group (NASDAQ:TROW) Earns Market Perform Rating from Analysts at BMO Capital Markets

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

A number of other research analysts have also recently weighed in on the stock. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods increased their price objective 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. Barclays reaffirmed an “underweight” rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Bank of America increased their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One investment 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.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $104.08.

T. Rowe Price Group Trading Up 1.5%

TROW opened at $103.28 on Friday. The firm’s 50 day simple moving average is $105.71 and its two-hundred day simple moving average is $98.13. The company has a market capitalization of $22.69 billion, a PE ratio of 11.54, a PEG ratio of 6.68 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

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

T. Rowe Price Group Dividend Announcement

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

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

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

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.