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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given an average rating of “Reduce” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $115.09.

TROW has been the subject of several research reports. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target 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. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th.

T. Rowe Price Group Trading Up 0.4 %

NASDAQ:TROW opened at $108.36 on Thursday. The company has a 50-day moving average price of $113.31 and a 200-day moving average price of $112.30. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 2.82 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Equities analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.15%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction 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 $14,749,822.95. This represents 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 company insiders.

Institutional Trading of T. Rowe Price Group

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in shares of T. Rowe Price Group by 39.9% in the fourth quarter. Toronto Dominion Bank now owns 104,835 shares of the asset manager’s stock worth $11,856,000 after buying an additional 29,908 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of T. Rowe Price Group by 23.4% in the fourth quarter. Sunbelt Securities Inc. now owns 3,242 shares of the asset manager’s stock worth $369,000 after buying an additional 614 shares during the last quarter. JT Stratford LLC boosted its holdings in shares of T. Rowe Price Group by 4.5% in the fourth quarter. JT Stratford LLC now owns 15,354 shares of the asset manager’s stock worth $1,736,000 after buying an additional 658 shares during the last quarter. Cornerstone Advisory LLC boosted its holdings in shares of T. Rowe Price Group by 21.2% in the fourth quarter. Cornerstone Advisory LLC now owns 84,146 shares of the asset manager’s stock worth $9,018,000 after buying an additional 14,718 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in shares of T. Rowe Price Group by 2,138.2% in the fourth quarter. McIlrath & Eck LLC now owns 761 shares of the asset manager’s stock worth $86,000 after buying an additional 727 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.