T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $102.23 Average Target Price from Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received an average recommendation of “Reduce” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $102.2308.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, February 10th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Evercore reduced their price target on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Bank of America boosted their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Finally, Argus upgraded T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after acquiring an additional 130,325 shares during the last quarter. State Street Corp boosted its position in shares of T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares during the period. Goldman Sachs Group Inc. increased its stake in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after buying an additional 143,109 shares during the period. Finally, Geode Capital Management LLC lifted its stake in T. Rowe Price Group by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after buying an additional 197,024 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $91.99 on Monday. The firm has a market cap of $20.06 billion, a P/E ratio of 9.94, a P/E/G ratio of 4.82 and a beta of 1.54. The firm has a fifty day moving average of $100.86 and a two-hundred day moving average of $103.00. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.92%.

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.