Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $101.69

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average rating of “Reduce” from the sixteen ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and twelve have given a hold recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $101.0769.

A number of analysts have weighed in on TROW shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. BMO Capital Markets lowered their price objective on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a report on Thursday, February 5th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $90.17 on Friday. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $118.22. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.77 and a beta of 1.50. The stock has a 50 day moving average of $93.89 and a 200-day moving average of $100.37.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a $1.30 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.22%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at approximately $540,000. Greenspring Advisors LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth approximately $1,583,000. First Citizens Bank & Trust Co. raised its stake in T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock valued at $18,053,000 after acquiring an additional 103,174 shares in the last quarter. Allen Wealth Management LLC boosted its position in T. Rowe Price Group by 459.3% during the 3rd quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock worth $1,422,000 after acquiring an additional 11,378 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of T. Rowe Price Group by 43.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock worth $32,021,000 after purchasing an additional 95,351 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.