T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $112.82 Average Target Price from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus recommendation of “Reduce” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $113.00.

A number of brokerages have commented on TROW. TD Cowen lowered their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday. Finally, The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd.

T. Rowe Price Group Stock Up 2.1 %

T. Rowe Price Group stock opened at $115.63 on Friday. The firm has a market capitalization of $25.74 billion, a PE ratio of 13.65, a P/E/G ratio of 1.93 and a beta of 1.41. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $122.27. The firm’s 50-day simple moving average is $107.54 and its 200 day simple moving average is $111.96.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.02 EPS. On average, research analysts expect that T. Rowe Price Group will post 9.08 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.29%. T. Rowe Price Group’s payout ratio is 58.56%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds have recently made changes to their positions in TROW. Lynx Investment Advisory acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $36,000. Versant Capital Management Inc raised its holdings in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.