Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $112.10

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Free Report) has received an average recommendation of “Reduce” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $112.10.

A number of research analysts recently commented on TROW shares. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th.

View Our Latest Analysis on T. Rowe Price Group

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently bought and sold shares of the stock. Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group during the first quarter valued at about $130,386,000. International Assets Investment Management LLC lifted its position in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares during the period. UBS Group AG grew its holdings in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Norges Bank acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at $80,831,000. Finally, Hsbc Holdings PLC lifted its position in T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after purchasing an additional 306,524 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW opened at $116.91 on Tuesday. The company has a 50-day moving average of $114.98 and a two-hundred day moving average of $109.32. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.02 and a beta of 1.40. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS. Analysts anticipate that T. Rowe Price Group will post 8.8 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

About T. Rowe Price Group

(Get Free Report

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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