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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average recommendation of “Reduce” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $108.6923.

Several brokerages have recently issued reports on TROW. Citigroup lifted their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a report on Tuesday, November 25th. Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Finally, TD Cowen lifted their price target on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd.

T. Rowe Price Group Stock Up 0.3%

T. Rowe Price Group stock opened at $103.92 on Wednesday. The stock has a 50-day moving average price of $103.00 and a 200 day moving average price of $102.65. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 3.42 and a beta of 1.53. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $119.09.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 EPS. Research analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently made changes to their positions in the company. Candriam S.C.A. raised its holdings in shares of T. Rowe Price Group by 20.4% in the 2nd quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock valued at $2,985,000 after buying an additional 5,236 shares during the period. Amundi boosted its holdings in T. Rowe Price Group by 16.9% during the 2nd quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock valued at $153,714,000 after acquiring an additional 232,361 shares during the period. Level Four Advisory Services LLC grew its position in T. Rowe Price Group by 4.2% in the 1st quarter. Level Four Advisory Services LLC now owns 102,084 shares of the asset manager’s stock valued at $9,379,000 after acquiring an additional 4,141 shares in the last quarter. Kestra Investment Management LLC grew its position in T. Rowe Price Group by 268.4% in the 1st quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock valued at $3,252,000 after acquiring an additional 25,793 shares in the last quarter. Finally, Promethium Advisors LLC increased its stake in T. Rowe Price Group by 45.2% during the first quarter. Promethium Advisors LLC now owns 46,460 shares of the asset manager’s stock worth $4,268,000 after purchasing an additional 14,473 shares during the period. 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.