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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned a consensus recommendation of “Reduce” from the eleven analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $113.00.

A number of analysts have recently commented on TROW shares. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th.

T. Rowe Price Group Stock Down 1.0 %

Shares of TROW stock opened at $112.92 on Friday. The company’s fifty day simple moving average is $107.88 and its 200-day simple moving average is $111.92. The firm has a market cap of $25.22 billion, a PE ratio of 13.41, a P/E/G ratio of 1.93 and a beta of 1.41. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. On average, equities analysts predict that T. Rowe Price Group will post 9.08 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares during the last quarter. Paulson Wealth Management Inc. grew its holdings in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 valued at $49,000 after purchasing an additional 99 shares during the last quarter. Finally, Private Wealth Partners LLC grew its holdings in shares of T. Rowe Price Group by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

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.