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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given an average recommendation of “Reduce” by the sixteen brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and twelve have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.3077.

A number of brokerages have recently commented on TROW. BMO Capital Markets started coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Citigroup upped their price objective on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Jefferies Financial Group increased their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research report on Tuesday, November 25th.

T. Rowe Price Group Stock Down 1.2%

TROW opened at $107.31 on Friday. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $118.32. The company’s 50-day moving average price is $103.29 and its two-hundred day moving average price is $104.01. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.72 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently modified their holdings of TROW. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Root Financial Partners LLC purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the last quarter. Salomon & Ludwin LLC boosted its position in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group during the second quarter worth about $35,000. 73.39% of the stock is currently owned by institutional investors.

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.