Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $96.45

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average recommendation of “Reduce” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $94.09.

Several brokerages recently commented on TROW. 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. Citigroup dropped their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 14th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their position. 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

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Addison Advisors LLC lifted 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 purchasing an additional 93 shares during the period. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd raised its position in 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 acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co raised its position in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 1.4 %

NASDAQ TROW opened at $92.67 on Tuesday. The company has a fifty day simple moving average of $90.76 and a 200 day simple moving average of $106.42. The company has a market cap of $20.59 billion, a P/E ratio of 10.12, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. Sell-side analysts predict 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 57.60%.

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.