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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given an average rating of “Reduce” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $113.30.

TROW has been the subject of a number of analyst reports. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. TD Cowen decreased their price objective on 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. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price target for the company.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the second quarter worth approximately $29,000. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Versant Capital Management Inc raised its stake in 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 purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC raised its stake in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, Riverview Trust Co boosted its position in shares of T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after buying an additional 206 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.1 %

Shares of NASDAQ TROW opened at $109.51 on Monday. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $122.27. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The stock’s 50 day simple moving average is $107.90 and its 200 day simple moving average is $112.94.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.53%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.