Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $102.23

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given an average recommendation of “Reduce” by the sixteen research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $101.6923.

A number of equities research analysts have recently weighed in on TROW shares. Bank of America lifted their price objective on T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research note on Thursday, February 5th. BMO Capital Markets lowered their target price on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Barclays set a $94.00 target price on T. Rowe Price Group in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after purchasing an additional 130,325 shares during the period. State Street Corp increased its holdings in T. Rowe Price Group by 1.5% during the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after purchasing an additional 211,647 shares during the period. Goldman Sachs Group Inc. raised its position in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after buying an additional 197,024 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $87.83 on Monday. The firm has a 50-day simple moving average of $100.33 and a two-hundred day simple moving average of $102.77. The stock has a market cap of $19.15 billion, a PE ratio of 9.50, a P/E/G ratio of 4.67 and a beta of 1.54. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.22.

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

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is currently 56.22%.

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.