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 an average recommendation of “Reduce” by the ten analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $112.10.

A number of equities research analysts have recently commented on TROW shares. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Evercore ISI lowered their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, Morgan Stanley boosted their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th.

T. Rowe Price Group Price Performance

TROW opened at $118.42 on Friday. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 2.02 and a beta of 1.43. The firm’s fifty day moving average price is $114.41 and its two-hundred day moving average price is $112.16. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 EPS. As a group, equities analysts anticipate that T. Rowe Price Group will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 48.0% during the first quarter. Abich Financial Wealth Management LLC now owns 1,027 shares of the asset manager’s stock worth $125,000 after purchasing an additional 333 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Verity Asset Management Inc. grew its holdings in shares of T. Rowe Price Group by 4.9% during the first quarter. Verity Asset Management Inc. now owns 6,026 shares of the asset manager’s stock worth $735,000 after purchasing an additional 283 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of T. Rowe Price Group by 156.3% during the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after purchasing an additional 10,260 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in T. Rowe Price Group by 175.6% in the first quarter. Cetera Investment Advisers now owns 43,261 shares of the asset manager’s stock worth $5,274,000 after buying an additional 27,565 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 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.