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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given a consensus recommendation of “Reduce” by the sixteen analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $102.2308.

A number of research firms have recently weighed in on TROW. Evercore cut their price target on T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, February 5th. Bank of America lifted their price objective on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. TD Cowen reduced their target price 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. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the company’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 in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TROW. Woodline Partners LP raised its holdings in shares of T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth raised its holdings in T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the period. Teacher Retirement System of Texas lifted its position in T. Rowe Price Group by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 33,755 shares of the asset manager’s stock valued at $3,257,000 after buying an additional 1,272 shares in the last quarter. Arkadios Wealth Advisors grew its stake in T. Rowe Price Group by 8.4% during the second quarter. Arkadios Wealth Advisors now owns 11,003 shares of the asset manager’s stock worth $1,062,000 after buying an additional 852 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of T. Rowe Price Group by 91.5% in the second quarter. Hantz Financial Services Inc. now owns 701 shares of the asset manager’s stock worth $68,000 after acquiring an additional 335 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $94.63 on Monday. The firm’s 50-day moving average is $101.51 and its two-hundred day moving average is $103.27. The company has a market capitalization of $20.64 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 4.88 and a beta of 1.54. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued 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). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $1.30 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.5%. T. Rowe Price Group’s payout ratio is presently 54.92%.

About T. Rowe Price Group

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.