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

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

TROW has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $116.55.

T. Rowe Price Group Stock Up 1.9 %

Shares of NASDAQ:TROW opened at $110.63 on Monday. The company’s fifty day moving average is $118.17 and its two-hundred day moving average is $112.88. T. Rowe Price Group has a 12-month low of $100.49 and a 12-month high of $125.81. The company has a market cap of $24.58 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $2.17 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that T. Rowe Price Group will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a 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%.

Insiders Place Their Bets

In other T. Rowe Price Group 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 completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of T. Rowe Price Group by 382.1% during the third 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 buying an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 3.5% during the third 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 during the last quarter. Dimensional Fund Advisors LP raised its position in shares of T. Rowe Price Group by 15.8% during the second 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 position in shares of T. Rowe Price Group by 77.2% during the second 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 during the last quarter. Institutional investors and hedge funds 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.