Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $115.09

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus rating of “Reduce” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $114.09.

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods restated 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. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was 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 of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $117,704,000. Marshall Wace LLP purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $63,284,000. Fayez Sarofim & Co raised its position in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares during the last quarter. Finally, Amundi lifted its stake in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 1.4 %

Shares of T. Rowe Price Group stock opened at $104.74 on Thursday. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market capitalization of $23.32 billion, a PE ratio of 11.43, a P/E/G ratio of 2.86 and a beta of 1.44. The firm’s 50-day moving average price is $112.14 and its 200 day moving average price is $112.38.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued 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 yield of 4.85%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

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.