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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus recommendation of “Reduce” from the eleven research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $115.55.

A number of research firms have recently issued reports on TROW. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their target price on 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.

T. Rowe Price Group Stock Up 0.3 %

TROW stock opened at $117.93 on Tuesday. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.71 and a beta of 1.41. T. Rowe Price Group has a fifty-two week low of $91.40 and a fifty-two week high of $122.27. The business has a 50 day moving average price of $109.33 and a 200 day moving average price of $111.93.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.32 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.21%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred 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 owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after buying an additional 1,054,461 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 worth $185,810,000 after purchasing an additional 220,105 shares during the period. AQR Capital Management LLC raised its position in shares of 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 purchasing an additional 196,565 shares during the period. Burney Co. acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $20,938,000. Finally, Canada Pension Plan Investment Board raised its position in shares of T. Rowe Price Group by 1,328.0% during the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after purchasing an additional 150,665 shares during the period. Institutional investors 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.