T. Rowe Price Group (NASDAQ:TROW) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of T. Rowe Price Group (NASDAQ:TROW – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the asset manager’s stock.

Several other research firms also recently weighed in on TROW. TheStreet downgraded shares of T. Rowe Price Group from a b- rating to a c rating in a research note on Thursday, January 26th. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $121.00 to $113.00 and set a hold rating for the company in a report on Friday, January 27th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $96.00 to $95.00 and set an underweight rating on the stock in a report on Friday, January 27th. BMO Capital Markets cut their price target on shares of T. Rowe Price Group from $105.00 to $90.00 and set a market perform rating for the company in a report on Friday, January 27th. Finally, Credit Suisse Group lowered their price objective on T. Rowe Price Group from $70.00 to $65.00 and set an underperform rating for the company in a research report on Friday, January 27th. Five research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $100.30.

T. Rowe Price Group Trading Up 0.0 %

Shares of T. Rowe Price Group stock opened at $108.17 on Thursday. T. Rowe Price Group has a twelve month low of $93.53 and a twelve month high of $157.77. The firm’s 50-day moving average price is $115.72 and its 200 day moving average price is $114.17. The firm has a market capitalization of $24.27 billion, a PE ratio of 16.17, a P/E/G ratio of 2.72 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 24.01%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $3.17 earnings per share. The business’s revenue was down 21.4% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group will post 6.64 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be paid a $1.22 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $4.88 dividend on an annualized basis and a yield of 4.51%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.20. T. Rowe Price Group’s payout ratio is currently 72.94%.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total value of $1,370,689.88. Following the transaction, the vice president now directly owns 129,436 shares in the company, valued at $14,823,010.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Andrew C. Mccormick sold 14,154 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the sale, the vice president now owns 70,319 shares of the company’s stock, valued at $8,208,336.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total value of $1,370,689.88. Following the sale, the vice president now directly owns 129,436 shares in the company, valued at approximately $14,823,010.72. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TROW. Fairfield Bush & CO. acquired a new position in T. Rowe Price Group in the 1st quarter valued at about $150,000. Roundview Capital LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth about $2,092,000. Cibc World Market Inc. increased its position in T. Rowe Price Group by 75.9% during the 1st quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock worth $4,092,000 after purchasing an additional 11,675 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in T. Rowe Price Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after buying an additional 60,580 shares during the period. Finally, Prudential PLC grew its stake in T. Rowe Price Group by 47.1% during the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock worth $1,832,000 after buying an additional 3,880 shares during the period. Hedge funds and other institutional investors own 76.58% of the company’s stock.

T. Rowe Price Group Company Profile

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.