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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given a consensus rating of “Reduce” by the twelve analysts that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $101.0909.

Several research analysts have commented on the stock. Barclays reiterated an “underweight” rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a report on Monday, August 4th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TROW. TFG Advisers LLC increased its holdings in shares of T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 97 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Bill Few Associates Inc. increased its holdings in T. Rowe Price Group by 4.3% during the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after acquiring an additional 107 shares in the last quarter. Cooper Financial Group increased its holdings in T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 110 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.5%

Shares of TROW opened at $105.76 on Thursday. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm’s 50 day moving average price is $101.59 and its 200 day moving average price is $97.73. The company has a market cap of $23.24 billion, a P/E ratio of 11.82, a PEG ratio of 2.79 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The firm’s revenue was down .6% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

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.