Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) PT at $105.08

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average rating of “Reduce” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $105.9167.

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Barclays lowered their target price on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th.

T. Rowe Price Group Stock Up 1.6%

T. Rowe Price Group stock opened at $113.51 on Thursday. The business has a 50 day moving average price of $111.97 and a two-hundred day moving average price of $102.18. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 4.01 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. On average, analysts expect that T. Rowe Price Group will post 10.11 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Goldman Sachs Group Inc. lifted its holdings in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after buying an additional 6,740,172 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after acquiring an additional 1,832,231 shares during the period. Norges Bank bought a new position in T. Rowe Price Group in the fourth quarter valued at about $128,283,000. PFA Pension Forsikringsaktieselskab bought a new position in T. Rowe Price Group in the fourth quarter valued at about $61,073,000. Finally, Caisse de depot et placement du Quebec increased its position in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.