T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Rated “Reduce” by Sell-Side Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus rating of “Reduce” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $104.08.

TROW has been the topic of several research reports. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Evercore set a $109.00 price target on shares of T. Rowe Price Group in a research note on Friday, October 9th. UBS Group initiated coverage on T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd.

Insider Activity at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently added to or reduced their stakes in TROW. BlackRock Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $2,728,119,000. State Street Corp boosted its stake in shares of T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock valued at $1,665,954,000 after purchasing an additional 381,183 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after purchasing an additional 524,544 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of T. Rowe Price Group by 12.6% during the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after purchasing an additional 413,317 shares during the last quarter. Finally, Provident Trust Co. raised its position in T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock worth $234,355,000 after purchasing an additional 8,524 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $100.10 on Tuesday. The business’s fifty day moving average is $107.00 and its 200-day moving average is $106.86. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.85 and a beta of 1.45. T. Rowe Price Group has a one year low of $85.22 and a one year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts expect that T. Rowe Price Group will post 10.09 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a $1.30 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. T. Rowe Price Group’s payout ratio is presently 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.