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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned a consensus recommendation of “Reduce” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $113.10.

TROW has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a research report on Friday, July 12th. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI cut 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 report on Tuesday, April 30th.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on 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 owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of T. Rowe Price Group by 4.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 68,486 shares of the asset manager’s stock worth $7,897,000 after acquiring an additional 2,952 shares in the last quarter. PGGM Investments lifted its stake in T. Rowe Price Group by 4.2% in the 2nd quarter. PGGM Investments now owns 26,611 shares of the asset manager’s stock valued at $3,069,000 after buying an additional 1,074 shares in the last quarter. ORG Partners LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $46,000. DMC Group LLC lifted its stake in T. Rowe Price Group by 12.4% in the 2nd quarter. DMC Group LLC now owns 5,288 shares of the asset manager’s stock valued at $610,000 after buying an additional 585 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $120.75 on Wednesday. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The business has a 50-day moving average of $116.17 and a two-hundred day moving average of $113.65. 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 announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 EPS. As a group, equities research analysts expect that T. Rowe Price Group will post 8.96 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.