T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Rated “Reduce” by Wall Street Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned a consensus rating of “Reduce” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $102.83.

Several equities research analysts have issued reports on TROW shares. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $106.00 to $107.00 and gave the company an “underweight” rating in a research note on Friday, October 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up from $112.00) on shares of T. Rowe Price Group in a research report on Friday, October 30th. Evercore set a $109.00 target price on shares of T. Rowe Price Group in a research report on Friday, October 9th. Finally, BMO Capital Markets cut their target price on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 13th.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $110.69 on Friday. The firm has a 50-day moving average of $105.28 and a two-hundred day moving average of $103.84. The stock has a market cap of $23.61 billion, a P/E ratio of 11.19, a PEG ratio of 4.25 and a beta of 1.43. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, topping the consensus estimate of $2.63 by $0.23. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.81 earnings per share. As a group, equities analysts expect that T. Rowe Price Group will post 10.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Wednesday, December 16th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, December 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.58%.

Insiders Place Their Bets

In related news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new position in shares of T. Rowe Price Group during the third quarter valued at $32,152,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of T. Rowe Price Group by 131.8% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 15,013 shares of the asset manager’s stock worth $1,562,000 after acquiring an additional 8,536 shares during the period. Westpac Banking Corp increased its holdings in shares of T. Rowe Price Group by 11.5% in the 3rd quarter. Westpac Banking Corp now owns 51,642 shares of the asset manager’s stock worth $5,373,000 after acquiring an additional 5,313 shares during the period. Private Advisor Group LLC increased its holdings in shares of T. Rowe Price Group by 10.4% in the 3rd quarter. Private Advisor Group LLC now owns 13,936 shares of the asset manager’s stock worth $1,450,000 after acquiring an additional 1,310 shares during the period. Finally, Taylor Hoffman Capital Management LLC lifted its position in T. Rowe Price Group by 2.5% in the 3rd quarter. Taylor Hoffman Capital Management LLC now owns 49,744 shares of the asset manager’s stock valued at $5,176,000 after purchasing an additional 1,229 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland. The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.