Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $101.69

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

TROW has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Evercore cut their price objective on T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. Bank of America increased their target price on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $88.45 on Friday. The firm has a fifty day moving average of $95.17 and a 200 day moving average of $100.74. The firm has a market cap of $19.25 billion, a PE ratio of 9.56, a PEG ratio of 3.70 and a beta of 1.54. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the business earned $2.12 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group will post 9.29 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 Monday, March 30th. Investors of record on Monday, March 16th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.9%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is currently 56.22%.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. grew its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. TD Private Client Wealth LLC boosted its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in shares of T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.