T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given a consensus recommendation of “Reduce” by the sixteen analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $101.6923.

Several research analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Bank of America increased their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 10th.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in T. Rowe Price Group by 1.5% during the second quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after buying an additional 211,647 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after acquiring an additional 143,109 shares during the period. Invesco Ltd. raised its holdings in shares of T. Rowe Price Group by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after acquiring an additional 131,438 shares during the period. Finally, Morgan Stanley boosted its position in shares of T. Rowe Price Group by 16.0% during the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after acquiring an additional 476,219 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $90.23 on Friday. The business has a 50 day simple moving average of $95.53 and a two-hundred day simple moving average of $100.96. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $118.22. The stock has a market capitalization of $19.63 billion, a P/E ratio of 9.75, a PEG ratio of 3.75 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the business earned $2.12 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $1.30 per share. The ex-dividend date is Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is presently 56.22%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.