T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives Average Recommendation of “Reduce” from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus rating of “Reduce” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $115.09.

A number of research analysts have weighed in on TROW shares. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Barclays dropped their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. TD Cowen dropped 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 research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th.

T. Rowe Price Group Stock Up 0.4 %

TROW opened at $108.36 on Thursday. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.82 and a beta of 1.44. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The company’s 50-day moving average price is $113.31 and its two-hundred day moving average price is $112.30.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.69%. T. Rowe Price Group’s dividend payout ratio is presently 54.15%.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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 approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Insight Folios Inc grew its holdings in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services grew its holdings in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares during the last quarter. Glenview Trust co boosted its position in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after buying an additional 92 shares during the period. MCF Advisors LLC boosted its position in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after buying an additional 93 shares during the period. Finally, Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Institutional investors own 73.39% of the company’s stock.

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.