T. Rowe Price Group (NASDAQ:TROW) Cut to “Hold” at StockNews.com

StockNews.com cut shares of T. Rowe Price Group (NASDAQ:TROW) from a buy rating to a hold rating in a research note released on Thursday morning.

Other equities research analysts have also issued research reports about the company. TD Cowen decreased their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays upped their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $108.55 on Thursday. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock has a fifty day moving average price of $118.21 and a two-hundred day moving average price of $112.94. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.17 EPS. On average, analysts predict that T. Rowe Price Group will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at $37,000. Larson Financial Group LLC increased its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of T. Rowe Price Group in the third quarter worth about $43,000. Institutional investors and hedge funds 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.