T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $108.69 Average PT from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given an average recommendation of “Reduce” by the sixteen analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $108.3077.

Several research firms have weighed in on TROW. Citigroup raised their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Morgan Stanley boosted their price target on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Evercore ISI decreased their price objective on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $104.05 on Wednesday. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.53. The business’s 50 day simple moving average is $102.89 and its 200-day simple moving average is $103.02. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group during the second quarter valued at about $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.