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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Free Report) have received an average rating of “Reduce” from the ten ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $112.10.

Several brokerages have issued reports on TROW. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th.

Check Out Our Latest Research Report on TROW

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TROW. Creative Financial Designs Inc. ADV increased its holdings in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Park Place Capital Corp increased its stake in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.5 %

TROW stock opened at $117.57 on Friday. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $132.76. The business’s 50 day simple moving average is $114.34 and its 200 day simple moving average is $112.00. The firm has a market capitalization of $26.25 billion, a PE ratio of 13.96, a PEG ratio of 2.00 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

T. Rowe Price Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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