Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) PT at $106.15

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average recommendation of “Reduce” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $106.1538.

A number of brokerages have weighed in on TROW. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Barclays decreased their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $104.16 on Friday. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.44 and a beta of 1.46. The firm’s fifty day moving average price is $112.36 and its 200 day moving average price is $104.75.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company posted $2.24 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts forecast that T. Rowe Price Group will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 52.16%.

Insider Activity

In other news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC increased its holdings in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. Motiv8 Investments LLC bought a new position in T. Rowe Price Group during the fourth quarter worth $35,000. Bank & Trust Co lifted its stake in T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 108 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in T. Rowe Price Group in the second quarter worth $39,000. Finally, Curio Wealth LLC boosted its holdings in T. Rowe Price Group by 64.3% in the fourth quarter. Curio Wealth LLC now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 151 shares during the period. 73.39% of the stock is 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 in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.