T. Rowe Price Group (NASDAQ:TROW) Reaches New 52-Week Low – What’s Next?

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) reached a new 52-week low during trading on Tuesday . The stock traded as low as $96.88 and last traded at $97.08, with a volume of 344798 shares trading hands. The stock had previously closed at $98.77.

Wall Street Analyst Weigh In

TROW has been the subject of several analyst reports. Morgan Stanley lowered their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Trading Down 1.3 %

The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 2.86 and a beta of 1.46. The company has a fifty day moving average price of $109.13 and a 200-day moving average price of $111.84.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the firm posted $1.72 EPS. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.52%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Capstone Triton Financial Group LLC raised its holdings in shares of T. Rowe Price Group by 8.6% during the fourth quarter. Capstone Triton Financial Group LLC now owns 6,347 shares of the asset manager’s stock valued at $718,000 after acquiring an additional 501 shares during the last quarter. Aegis Wealth Management LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $240,000. Smith Shellnut Wilson LLC ADV acquired a new position in T. Rowe Price Group in the 4th quarter valued at $235,000. Siemens Fonds Invest GmbH lifted its holdings in T. Rowe Price Group by 1,019.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 51,378 shares of the asset manager’s stock valued at $5,810,000 after purchasing an additional 46,787 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth $61,000. 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.