T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $105.67 Average Target Price from Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average recommendation of “Reduce” from the fourteen analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $105.6667.

TROW has been the topic of several research reports. BMO Capital Markets increased their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. 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. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research report on Wednesday, July 29th. Finally, TD Cowen increased their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, August 3rd.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the stock in a transaction that occurred on 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 directly owned 71,328 shares of the company’s stock, 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 is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP grew its position in T. Rowe Price Group by 9.1% during the 2nd quarter. Corient Private Wealth LP now owns 128,271 shares of the asset manager’s stock worth $14,583,000 after purchasing an additional 10,746 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.2% during the second quarter. HighTower Advisors LLC now owns 189,043 shares of the asset manager’s stock worth $21,492,000 after buying an additional 2,160 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in T. Rowe Price Group in the 2nd quarter valued at about $46,511,000. California State Teachers Retirement System raised its stake in T. Rowe Price Group by 10,632.8% during the 2nd quarter. California State Teachers Retirement System now owns 45,287,275 shares of the asset manager’s stock valued at $5,148,710,000 after acquiring an additional 44,865,323 shares during the last quarter. Finally, Wedmont Private Capital purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at approximately $265,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $111.24 on Monday. The company has a market capitalization of $23.73 billion, a PE ratio of 11.16, a P/E/G ratio of 3.68 and a beta of 1.47. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00. The business’s fifty day moving average price is $114.35 and its 200 day moving average price is $103.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $2.24 EPS. Research analysts predict that T. Rowe Price Group will post 10.15 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is 52.16%.

T. Rowe Price Group Company Profile

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.