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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average rating of “Reduce” from the ten research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $113.10.

Several research firms recently commented on TROW. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Barclays assumed coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price for the company. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $29,000. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $31,000. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Finally, Signature Resources Capital Management LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

TROW opened at $106.04 on Thursday. The firm has a 50 day moving average of $111.67 and a two-hundred day moving average of $113.90. The firm has a market capitalization of $23.60 billion, a PE ratio of 12.59, a P/E/G ratio of 1.69 and a beta of 1.41. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the business earned $2.02 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

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.