T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $132.30 Average Price Target from Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) have received an average rating of “Hold” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $132.30.

Several equities analysts have recently issued reports on the stock. TheStreet lowered shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Wednesday, July 13th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating for the company in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $120.00 to $138.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. Finally, UBS Group reduced their target price on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a research note on Friday, July 29th.

T. Rowe Price Group Stock Up 0.4 %

Shares of TROW stock opened at $121.71 on Friday. T. Rowe Price Group has a 12-month low of $104.72 and a 12-month high of $223.36. The firm has a market capitalization of $27.47 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. The firm has a fifty day moving average of $121.58 and a 200-day moving average of $128.53.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm earned $3.31 EPS. T. Rowe Price Group’s quarterly revenue was down 20.4% on a year-over-year basis. Research analysts expect that T. Rowe Price Group will post 8.24 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 3.94%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 46.33%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the sale, the vice president now directly owns 136,410 shares of the company’s stock, valued at approximately $17,311,793.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amundi raised its holdings in T. Rowe Price Group by 13.6% in the 2nd quarter. Amundi now owns 2,240,627 shares of the asset manager’s stock valued at $252,868,000 after acquiring an additional 267,774 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in T. Rowe Price Group by 49.3% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 2,014 shares of the asset manager’s stock valued at $229,000 after acquiring an additional 665 shares during the period. Captrust Financial Advisors raised its holdings in T. Rowe Price Group by 31.8% in the 2nd quarter. Captrust Financial Advisors now owns 81,888 shares of the asset manager’s stock valued at $9,303,000 after acquiring an additional 19,748 shares during the period. Dean Investment Associates LLC raised its holdings in T. Rowe Price Group by 25.3% in the 2nd quarter. Dean Investment Associates LLC now owns 36,696 shares of the asset manager’s stock valued at $4,169,000 after acquiring an additional 7,402 shares during the period. Finally, Physicians Financial Services Inc. raised its holdings in T. Rowe Price Group by 2.5% in the 2nd quarter. Physicians Financial Services Inc. now owns 10,021 shares of the asset manager’s stock valued at $1,138,000 after acquiring an additional 245 shares during the period. 74.94% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile

(Get Rating)

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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