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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus recommendation of “Reduce” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $112.82.

TROW has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $113.21 on Friday. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $122.27. The company has a market capitalization of $25.28 billion, a PE ratio of 13.45, a P/E/G ratio of 1.84 and a beta of 1.41. The business has a 50-day moving average of $107.33 and a 200-day moving average of $112.09.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that T. Rowe Price Group will post 9.04 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares during the period. American Century Companies Inc. raised its stake in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 2.5% in the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after buying an additional 40,490 shares during the period. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in T. Rowe Price Group by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock valued at $75,429,000 after buying an additional 4,701 shares in the last quarter. Institutional investors and hedge funds 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.