Citigroup Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target trimmed by Citigroup from $100.00 to $95.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday. Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. TD Cowen decreased their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Evercore ISI dropped their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $96.00.

T. Rowe Price Group Trading Down 2.5 %

TROW stock opened at $85.37 on Monday. The stock has a market cap of $18.97 billion, a P/E ratio of 9.32, a P/E/G ratio of 2.86 and a beta of 1.50. The stock’s fifty day simple moving average is $96.58 and its two-hundred day simple moving average is $108.71. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the company earned $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % 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 insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Addison Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd grew its position in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $32,000. Finally, Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Company Profile

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.