Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $104.75

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average recommendation of “Reduce” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $100.09.

A number of brokerages have commented on TROW. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday. Barclays lowered their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Finally, Evercore ISI lowered their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after purchasing an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Fayez Sarofim & Co lifted its stake in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC grew its holdings in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after acquiring an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. increased its position in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.9 %

NASDAQ TROW opened at $87.58 on Friday. The firm has a market capitalization of $19.46 billion, a P/E ratio of 9.56, a PEG ratio of 2.86 and a beta of 1.50. The company has a 50-day moving average price of $97.08 and a 200-day moving average price of $108.87. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company earned $1.72 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.80%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

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.