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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average rating of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $113.30.

TROW has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays assumed coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. Wells Fargo & Company started coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. Evercore ISI lowered their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock valued at $1,443,767 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC grew its position in shares of T. Rowe Price Group by 4.4% in the second quarter. Anchor Investment Management LLC now owns 27,222 shares of the asset manager’s stock valued at $3,139,000 after purchasing an additional 1,139 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its holdings in T. Rowe Price Group by 1.7% in the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 11,719 shares of the asset manager’s stock valued at $1,351,000 after buying an additional 194 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $1,567,000. Cetera Investment Advisers raised its holdings in shares of T. Rowe Price Group by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock worth $5,148,000 after acquiring an additional 1,385 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of T. Rowe Price Group during the 2nd quarter valued at about $419,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $108.29 on Monday. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41. The stock’s fifty day moving average price is $108.80 and its 200 day moving average price is $113.25. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company posted $2.02 EPS. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.58%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.