T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average recommendation of “Reduce” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $101.8333.

Several equities research analysts have commented on the company. Barclays boosted their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd.

Insider Transactions at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC lifted its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the period. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth about $31,000. Sound Income Strategies LLC increased its position in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares in the last quarter. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $1.50 during trading on Friday, hitting $118.55. The company’s stock had a trading volume of 1,785,450 shares, compared to its average volume of 2,199,676. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $121.17. The company has a market capitalization of $25.40 billion, a PE ratio of 12.71, a P/E/G ratio of 5.98 and a beta of 1.47. The company has a fifty day simple moving average of $107.60 and a two-hundred day simple moving average of $100.88.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group will post 9.89 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.