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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $115.55.

Several equities analysts have recently commented on TROW shares. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Morgan Stanley upped their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Forsta AP Fonden raised its stake in shares of T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC raised its stake in shares of T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after acquiring an additional 42,949 shares in the last quarter. Savant Capital LLC raised its stake in shares of T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of T. Rowe Price Group by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after acquiring an additional 6,780 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of T. Rowe Price Group by 3.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock valued at $29,105,000 after acquiring an additional 9,519 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.1 %

Shares of TROW stock opened at $118.66 on Tuesday. The firm has a 50-day moving average price of $111.07 and a 200 day moving average price of $112.25. T. Rowe Price Group has a twelve month low of $96.46 and a twelve month high of $122.27. The company has a market capitalization of $26.36 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm 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 company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS. As a group, research analysts predict that T. Rowe Price Group will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

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.