T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives Consensus Rating of “Reduce” from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average recommendation of “Reduce” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $101.6923.

Several research firms have recently commented on TROW. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. BMO Capital Markets decreased their target price on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. JPMorgan Chase & Co. dropped 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. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research note on Thursday, February 5th.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $90.14 on Friday. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 3.73 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. The business has a fifty day moving average price of $94.55 and a 200-day moving average price of $100.52.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted $2.12 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were issued a dividend of $1.30 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Monday, March 16th. T. Rowe Price Group’s payout ratio is 56.22%.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% during the fourth 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of T. Rowe Price Group by 540.9% during the fourth 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 during the last quarter. Root Financial Partners LLC purchased a new position in shares of T. Rowe Price Group in the third quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its holdings in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Institutional investors 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.