T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $114.09 Average Price Target from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received an average recommendation of “Reduce” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $114.09.

A number of research analysts recently commented on TROW shares. Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays dropped their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th.

T. Rowe Price Group Trading Up 0.5 %

Shares of NASDAQ:TROW opened at $94.05 on Monday. T. Rowe Price Group has a 52 week low of $91.37 and a 52 week high of $125.81. The company’s 50 day moving average is $107.10 and its two-hundred day moving average is $111.36. The company has a market cap of $20.94 billion, a PE ratio of 10.27, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the company earned $1.72 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.40%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its holdings in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co grew its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares in the last quarter. 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.