Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $115.55

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average rating of “Reduce” from the eleven ratings firms that are presently covering the company, 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 12-month price target among analysts that have issued a report on the stock in the last year is $116.00.

TROW has been the topic of several analyst reports. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted 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 note on Monday, November 11th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Barclays increased their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $123.59 on Friday. The stock’s fifty day moving average is $115.55 and its 200 day moving average is $113.11. T. Rowe Price Group has a one year low of $97.50 and a one year high of $125.81. The stock has a market cap of $27.46 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 earnings per share. Analysts predict that T. Rowe Price Group will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Insight Folios Inc grew its stake in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares during the last quarter. Keystone Financial Services boosted its holdings in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares during the period. Nvwm LLC grew its position in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares during the last quarter. Strategy Asset Managers LLC increased its stake in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of T. Rowe Price Group by 29.9% during the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.