T. Rowe Price Group (NASDAQ:TROW) Reaches New 52-Week Low – Time to Sell?

T. Rowe Price Group, Inc. (NASDAQ:TROW)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $100.03 and last traded at $99.20, with a volume of 298781 shares changing hands. The stock had previously closed at $103.88.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Stock Performance

The firm has a fifty day simple moving average of $111.51 and a two-hundred day simple moving average of $112.39. The firm has a market cap of $22.31 billion, a PE ratio of 10.95, a PEG ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the firm earned $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.07%. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently bought and sold shares of TROW. Farther Finance Advisors LLC grew its holdings in shares of T. Rowe Price Group by 31.0% in the third quarter. Farther Finance Advisors LLC now owns 4,764 shares of the asset manager’s stock worth $519,000 after purchasing an additional 1,128 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth approximately $226,000. Van ECK Associates Corp increased its position in shares of T. Rowe Price Group by 5.9% during the third quarter. Van ECK Associates Corp now owns 91,496 shares of the asset manager’s stock worth $10,022,000 after acquiring an additional 5,109 shares during the period. Nvwm LLC raised its stake in shares of T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of T. Rowe Price Group by 14.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 47,793 shares of the asset manager’s stock valued at $5,206,000 after purchasing an additional 5,980 shares during the period. Hedge funds and other institutional investors 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.