Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $94.09

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average rating of “Reduce” from the twelve analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $94.09.

A number of analysts recently issued reports on TROW shares. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $96.10 on Wednesday. The firm has a market capitalization of $21.17 billion, a P/E ratio of 10.90, a PEG ratio of 3.12 and a beta of 1.49. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company’s fifty day moving average price is $93.03 and its 200-day moving average price is $100.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.38 earnings per share. Equities analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president now directly owns 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock worth $646,856 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Principal Securities Inc. lifted its stake in shares of T. Rowe Price Group by 10.0% in the fourth quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager’s stock worth $215,000 after buying an additional 173 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 125.4% in the fourth quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager’s stock worth $81,000 after buying an additional 400 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of T. Rowe Price Group by 2.8% in the fourth quarter. Wealthspire Advisors LLC now owns 12,505 shares of the asset manager’s stock worth $1,414,000 after buying an additional 344 shares in the last quarter. South Dakota Investment Council purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth about $158,000. Finally, IFP Advisors Inc lifted its stake in shares of T. Rowe Price Group by 3.2% in the fourth quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock worth $429,000 after buying an additional 119 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.