Citigroup Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $100.00

T. Rowe Price Group (NASDAQ:TROW) had its price target trimmed by Citigroup from $120.00 to $100.00 in a report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

TROW has been the topic of a number of other research reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley decreased their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.82.

T. Rowe Price Group Trading Up 1.8 %

Shares of NASDAQ TROW opened at $93.90 on Monday. The company has a fifty day moving average price of $103.36 and a 200 day moving average price of $110.62. The firm has a market cap of $20.87 billion, a PE ratio of 10.25, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group has a 1-year low of $89.70 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the company earned $1.72 EPS. Equities research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Fayez Sarofim & Co increased its holdings in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares in the last quarter. Geode Capital Management LLC grew its holdings in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after buying an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. grew its stake in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares in 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.