T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Rating of “Reduce” by Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received a consensus recommendation of “Reduce” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $113.10.

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Barclays started coverage on T. Rowe Price Group in a research report on Tuesday. They set an “underweight” rating and a $99.00 price objective for the company. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in TROW. Nomura Asset Management Co. Ltd. boosted its position in shares of T. Rowe Price Group by 15.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after acquiring an additional 47,043 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of T. Rowe Price Group during the first quarter valued at about $1,008,000. Nebula Research & Development LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $807,000. Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of T. Rowe Price Group by 52.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after buying an additional 22,533 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $107.51 on Thursday. The firm has a market cap of $23.93 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.74 and a beta of 1.42. The business’s 50 day moving average price is $112.64 and its 200-day moving average price is $113.94. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 EPS. As a group, equities analysts predict that T. Rowe Price Group will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.61%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

About T. Rowe Price Group

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.