T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned a consensus rating of “Reduce” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $100.5385.

Several equities analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Barclays increased their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Finally, TD Cowen lifted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TROW. Robeco Institutional Asset Management B.V. raised its position in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after purchasing an additional 11,691 shares during the period. Assenagon Asset Management S.A. boosted its position in T. Rowe Price Group by 43.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after purchasing an additional 95,351 shares during the period. LBP AM SA boosted its position in T. Rowe Price Group by 23.9% during the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock valued at $16,061,000 after purchasing an additional 30,226 shares during the period. SVB Wealth LLC grew its stake in T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after buying an additional 16,155 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in T. Rowe Price Group by 1,307.4% during the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock worth $33,377,000 after buying an additional 301,934 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

TROW opened at $118.55 on Friday. The stock has a market capitalization of $25.40 billion, a PE ratio of 12.71, a P/E/G ratio of 6.02 and a beta of 1.47. The firm’s fifty day moving average price is $105.76 and its 200 day moving average price is $100.36. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $118.64.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. On average, equities research analysts forecast that T. Rowe Price Group will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

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.