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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned a consensus rating of “Reduce” from the ten analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $113.30.

Several brokerages have commented on TROW. TD Cowen dropped their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Barclays started coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th.

Insider Buying and Selling at T. Rowe Price Group

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

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently modified their holdings of TROW. Ashton Thomas Private Wealth LLC bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $1,008,000. Nebula Research & Development LLC bought a new position in T. Rowe Price Group during the fourth quarter worth $807,000. Fisher Asset Management LLC boosted its holdings in T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after purchasing an additional 109,053 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in shares of T. Rowe Price Group during the first quarter worth $8,437,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $109.51 on Monday. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $122.27. The firm’s 50-day simple moving average is $107.90 and its 200-day simple moving average is $112.94. The firm has a market cap of $24.45 billion, a P/E ratio of 13.01, a PEG ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 EPS. Analysts expect that T. Rowe Price Group will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.53%. T. Rowe Price Group’s dividend payout ratio is currently 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.