Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $113.30

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned a consensus recommendation of “Reduce” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $113.30.

Several brokerages have commented on TROW. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $109.00 target price on the stock. Barclays began coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target for the company. JPMorgan Chase & Co. lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Anchor Investment Management LLC raised its stake in T. Rowe Price Group by 4.4% during the 2nd quarter. Anchor Investment Management LLC now owns 27,222 shares of the asset manager’s stock valued at $3,139,000 after purchasing an additional 1,139 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its position in T. Rowe Price Group by 1.7% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 11,719 shares of the asset manager’s stock valued at $1,351,000 after buying an additional 194 shares during the period. Sanctuary Advisors LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter worth about $1,567,000. Cetera Investment Advisers boosted its position in T. Rowe Price Group by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock worth $5,148,000 after acquiring an additional 1,385 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in T. Rowe Price Group during the 2nd quarter worth about $419,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $107.46 on Monday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $122.27. The stock has a fifty day moving average price of $108.36 and a 200 day moving average price of $113.13. The company has a market cap of $23.92 billion, a P/E ratio of 12.80, a PEG ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for 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 firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 EPS. As a group, research analysts anticipate that T. Rowe Price Group will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.62%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

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.