T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Average Rating of “Hold” by Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $168.27.

A number of analysts have recently weighed in on TROW shares. Citigroup dropped their price target on T. Rowe Price Group from $110.00 to $90.00 in a research report on Friday, April 29th. BMO Capital Markets lowered their target price on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, May 2nd. Jefferies Financial Group restated a “hold” rating and issued a $156.00 target price on shares of T. Rowe Price Group in a research report on Monday, April 11th. Morgan Stanley lowered their target price on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Finally, StockNews.com began coverage on T. Rowe Price Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of T. Rowe Price Group stock opened at $127.73 on Friday. The business’s 50 day simple moving average is $136.15 and its 200-day simple moving average is $161.29. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.89 and a beta of 1.34. T. Rowe Price Group has a twelve month low of $112.65 and a twelve month high of $224.55.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The asset manager reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 earnings per share. As a group, research analysts forecast that T. Rowe Price Group will post 10.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Tuesday, June 14th. T. Rowe Price Group’s payout ratio is currently 38.83%.

In other news, insider Jessica M. Hiebler sold 1,260 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $143.65, for a total transaction of $180,999.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 730 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the sale, the insider now directly owns 13,089 shares of the company’s stock, valued at $1,636,125. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of T. Rowe Price Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of T. Rowe Price Group by 4.8% in the first quarter. BlackRock Inc. now owns 19,713,986 shares of the asset manager’s stock valued at $2,980,558,000 after purchasing an additional 904,707 shares in the last quarter. State Street Corp lifted its holdings in shares of T. Rowe Price Group by 2.0% in the first quarter. State Street Corp now owns 12,340,755 shares of the asset manager’s stock valued at $1,865,799,000 after purchasing an additional 237,127 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of T. Rowe Price Group by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 9,442,430 shares of the asset manager’s stock valued at $1,427,600,000 after purchasing an additional 900,933 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,712,847 shares of the asset manager’s stock valued at $924,658,000 after purchasing an additional 101,912 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile (Get Rating)

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.

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