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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received an average recommendation of “Reduce” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation and twelve have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $101.6923.

TROW has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Barclays set a $94.00 price target on T. Rowe Price Group in a report on Thursday, February 5th.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $90.23 on Friday. The firm’s fifty day moving average is $95.53 and its two-hundred day moving average is $100.96. The firm has a market cap of $19.63 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.75 and a beta of 1.54. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 EPS. As a group, equities research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its holdings in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Essex Bank lifted its holdings in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after purchasing an additional 100 shares in the last quarter. PFG Investments LLC grew its position in shares of T. Rowe Price Group by 4.8% in the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock valued at $231,000 after purchasing an additional 102 shares during the period. MTM Investment Management LLC increased its stake in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after purchasing an additional 107 shares in the last quarter. Finally, GenTrust LLC increased its stake in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.