T. Rowe Price Group (TROW) Given a $112.00 Price Target at Bank of America

Bank of America set a $112.00 price target on T. Rowe Price Group (NASDAQ:TROW) in a research note issued to investors on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group upped their price objective on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the company a buy rating in a research report on Monday, April 1st. Credit Suisse Group lowered their price objective on shares of T. Rowe Price Group from $115.00 to $107.00 and set an outperform rating for the company in a research report on Monday, January 14th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a hold rating to a buy rating and set a $116.00 price objective for the company in a research report on Wednesday, April 3rd. Goldman Sachs Group cut shares of T. Rowe Price Group from a buy rating to a neutral rating and set a $93.00 price objective for the company. in a research report on Friday, January 4th. Finally, Barclays upped their price objective on shares of T. Rowe Price Group from $85.00 to $88.00 and gave the company an underweight rating in a research report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $105.33.

Shares of T. Rowe Price Group stock opened at $104.05 on Tuesday. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. T. Rowe Price Group has a 52 week low of $84.59 and a 52 week high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.25). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.16%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, equities research analysts forecast that T. Rowe Price Group will post 6.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 dividend on an annualized basis and a yield of 2.92%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

In related news, VP W. Sharps Robert sold 2,617 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total value of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at approximately $45,192,615.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher D. Alderson sold 104,465 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the completion of the transaction, the vice president now directly owns 401,164 shares of the company’s stock, valued at $38,888,838.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,082 shares of company stock valued at $11,361,948. Company insiders own 3.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Reilly Financial Advisors LLC boosted its stake in shares of T. Rowe Price Group by 66.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after buying an additional 118 shares during the last quarter. Ruggie Capital Group acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $28,000. Financial Gravity Companies Inc. acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $30,000. Pearl River Capital LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $31,000. Finally, Rational Advisors LLC boosted its stake in shares of T. Rowe Price Group by 306.7% during the 4th quarter. Rational Advisors LLC now owns 366 shares of the asset manager’s stock worth $34,000 after buying an additional 276 shares during the last quarter. 72.65% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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