T. Rowe Price Group (NASDAQ:TROW) Upgraded at StockNews.com

StockNews.com upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a buy rating in a report released on Friday.

A number of other equities research analysts have also recently weighed in on TROW. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $116.12 on Friday. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The company’s 50-day simple moving average is $117.50 and its two-hundred day simple moving average is $113.24.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $2.17 earnings per share. Equities analysts expect that T. Rowe Price Group will post 9.39 earnings per share 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. Investors of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend 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 T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred 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 sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. lifted its holdings in T. Rowe Price Group by 9.9% in the second quarter. Atria Wealth Solutions Inc. now owns 12,907 shares of the asset manager’s stock valued at $1,488,000 after acquiring an additional 1,158 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $228,000. &PARTNERS boosted its holdings in T. Rowe Price Group by 26.7% during the second quarter. &PARTNERS now owns 5,417 shares of the asset manager’s stock worth $625,000 after buying an additional 1,140 shares in the last quarter. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the second quarter valued at $36,000. Finally, Baillie Gifford & Co. grew its position in T. Rowe Price Group by 8.6% during the second quarter. Baillie Gifford & Co. now owns 393,301 shares of the asset manager’s stock valued at $45,352,000 after buying an additional 31,290 shares during the period. 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.