T. Rowe Price Group (NASDAQ:TROW) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of T. Rowe Price Group (NASDAQ:TROW) from a buy rating to a hold rating in a report issued on Thursday morning.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays increased their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $108.55 on Thursday. The company has a market cap of $24.12 billion, a PE ratio of 11.88, a P/E/G ratio of 1.73 and a beta of 1.43. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a fifty day moving average price of $118.21 and a two-hundred day moving average price of $112.94.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. Equities research analysts anticipate that T. Rowe Price Group will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.57%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Insight Folios Inc increased its stake in shares of T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after acquiring an additional 90 shares during the last quarter. Keystone Financial Services increased its position in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. Nvwm LLC raised its stake in shares of T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares in the last quarter. Strategy Asset Managers LLC raised its position in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.