T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Average Rating of “Reduce” by Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received an average recommendation of “Reduce” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $117.00.

Several equities analysts have recently issued reports on the company. Barclays upped their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Morgan Stanley lifted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Geode Capital Management LLC grew its position in shares of T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares during the period. American Century Companies Inc. raised its position in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. Finally, Provident Trust Co. boosted its stake in T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after buying an additional 7,905 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 1.1 %

Shares of NASDAQ:TROW opened at $114.69 on Wednesday. The stock has a market cap of $25.48 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The stock’s fifty day simple moving average is $118.14 and its two-hundred day simple moving average is $113.11. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 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.