T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $100.08 Consensus Price Target from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given a consensus recommendation of “Reduce” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $100.0769.

Several equities research analysts have recently issued reports on TROW shares. Jefferies Financial Group lowered their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore increased their target price on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Finally, TD Cowen increased their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $109.64 on Wednesday. The business’s 50-day moving average is $100.82 and its two-hundred day moving average is $99.62. The company has a market capitalization of $23.49 billion, a P/E ratio of 11.75, a P/E/G ratio of 5.54 and a beta of 1.50. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $2.23 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that T. Rowe Price Group will post 9.63 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake 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 buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $31,000. Sound Income Strategies LLC lifted its stake in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares in the last quarter. Finally, DV Equities LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $32,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.