T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $94.09 Consensus PT from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus recommendation of “Reduce” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.09.

Several equities research analysts have recently weighed in on TROW shares. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Citigroup lowered their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Finally, TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $96.10 on Wednesday. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a 50-day moving average of $93.03 and a two-hundred day moving average of $100.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $2.38 EPS. Research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.29%. T. Rowe Price Group’s payout ratio is 57.60%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president now owns 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock valued at $646,856 over the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Glenview Trust co increased its stake in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares in the last quarter. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Strategy Asset Managers LLC increased its stake in T. Rowe Price Group by 5.0% during the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock valued at $258,000 after purchasing an additional 108 shares in the last quarter. Cooper Financial Group increased its stake in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.