T. Rowe Price Group (NASDAQ:TROW) Downgraded by StockNews.com to Hold

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

Other equities analysts also recently issued research reports about the company. Barclays raised their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Trading Down 1.6 %

NASDAQ TROW opened at $115.67 on Friday. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.73 and a beta of 1.42. The stock has a 50-day moving average of $117.98 and a 200 day moving average of $113.26. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates 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 firm posted $2.17 EPS. Equities analysts predict that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction 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 of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. True Wealth Design LLC purchased a new position in T. Rowe Price Group during the 3rd quarter worth approximately $37,000. Larson Financial Group LLC increased its position in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in T. Rowe Price Group in the third quarter valued at approximately $43,000. 73.39% of the stock is currently owned by hedge funds and other 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.