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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given a consensus rating of “Reduce” by the twelve brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $96.64.

TROW has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. TD Cowen cut their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $90.00 to $98.00 and gave the stock an “underweight” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Finally, Evercore ISI lowered their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently made changes to their positions in the stock. Strategy Asset Managers LLC raised its position in T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock worth $258,000 after purchasing an additional 108 shares during the period. Cooper Financial Group boosted its stake in T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares in the last quarter. Associated Banc Corp boosted its stake in T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after acquiring an additional 114 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of T. Rowe Price Group by 4.7% during the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Down 0.6%

NASDAQ TROW opened at $105.77 on Friday. The company has a market capitalization of $23.30 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 3.14 and a beta of 1.49. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a fifty day simple moving average of $96.63 and a 200 day simple moving average of $98.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. T. Rowe Price Group’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 earnings per share. Research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.80%. T. Rowe Price Group’s payout ratio is currently 57.60%.

T. Rowe Price Group Company Profile

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.