T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Recommendation of “Reduce” by Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received a consensus rating of “Reduce” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $115.82.

TROW has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group lowered 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 note on Thursday, October 3rd. Barclays cut their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently modified their holdings of TROW. AE Wealth Management LLC acquired a new stake in T. Rowe Price Group in the second quarter valued at $305,000. EverSource Wealth Advisors LLC lifted its stake in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 99 shares during the period. AQR Capital Management LLC boosted its holdings in 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 worth $52,032,000 after buying an additional 196,565 shares in the last quarter. APG Asset Management N.V. grew its position in T. Rowe Price Group by 205.9% during the second quarter. APG Asset Management N.V. now owns 26,742 shares of the asset manager’s stock worth $2,877,000 after buying an additional 18,000 shares during the period. Finally, MBB Public Markets I LLC purchased a new position in T. Rowe Price Group in the second quarter valued at about $1,822,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.7 %

Shares of TROW opened at $114.21 on Friday. The company has a market cap of $25.37 billion, a P/E ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm’s 50 day moving average price is $117.22 and its 200 day moving average price is $112.80.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. Research analysts forecast that T. Rowe Price Group will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

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.