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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned a consensus rating of “Reduce” from the eleven analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $116.00.

A number of equities research analysts recently weighed in on TROW shares. Morgan Stanley increased their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Barclays raised their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th.

T. Rowe Price Group Stock Performance

TROW opened at $121.71 on Friday. T. Rowe Price Group has a twelve month low of $97.50 and a twelve month high of $125.81. The firm has a market cap of $27.04 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. The firm’s fifty day moving average is $115.87 and its two-hundred day moving average is $113.14.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % 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

A number of large investors have recently bought and sold shares of TROW. Simplicity Wealth LLC raised its holdings in shares of T. Rowe Price Group by 7.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,967 shares of the asset manager’s stock worth $342,000 after acquiring an additional 212 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in T. Rowe Price Group by 2.8% during the 2nd quarter. QRG Capital Management Inc. now owns 5,199 shares of the asset manager’s stock worth $599,000 after acquiring an additional 140 shares during the last quarter. Unison Advisors LLC lifted its position in shares of T. Rowe Price Group by 1.1% during the second quarter. Unison Advisors LLC now owns 16,729 shares of the asset manager’s stock valued at $1,929,000 after purchasing an additional 177 shares in the last quarter. Czech National Bank boosted its holdings in T. Rowe Price Group by 8.0% during the second quarter. Czech National Bank now owns 42,552 shares of the asset manager’s stock worth $4,907,000 after purchasing an additional 3,157 shares during the last quarter. Finally, Brady Family Wealth LLC grew its position in T. Rowe Price Group by 3.1% in the 2nd quarter. Brady Family Wealth LLC now owns 21,884 shares of the asset manager’s stock worth $2,523,000 after purchasing an additional 667 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.