T. Rowe Price Group (NASDAQ:TROW) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

T. Rowe Price Group, Inc. (NASDAQ:TROW) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $103.78 and traded as low as $103.34. T. Rowe Price Group shares last traded at $103.49, with a volume of 2,031,656 shares.

Analyst Upgrades and Downgrades

TROW has been the topic of several analyst reports. TD Cowen cut their price objective on shares of T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. BMO Capital Markets lowered their target price on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating for the company in a report on Tuesday, October 13th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Finally, The Goldman Sachs Group increased their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $104.23.

T. Rowe Price Group Stock Up 0.4%

The stock has a market capitalization of $22.19 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 3.05 and a beta of 1.45. The company has a fifty day simple moving average of $105.93 and a two-hundred day simple moving average of $103.72.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $2.24 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.08 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Insiders Place Their Bets

In other news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthcare Capital Partners LLC boosted its stake in T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC increased its holdings in T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after purchasing an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC raised its stake in shares of T. Rowe Price Group by 3.9% in the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.