T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $108.69 Consensus PT from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus rating of “Reduce” from the sixteen research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and twelve have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $108.3077.

A number of brokerages have recently weighed in on TROW. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley lifted their price objective on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group upped their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Finally, Barclays raised their target price on T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th.

T. Rowe Price Group Stock Performance

TROW opened at $103.28 on Wednesday. The stock has a market capitalization of $22.54 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53. The stock’s 50 day moving average price is $102.95 and its 200-day moving average price is $102.74. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 earnings per share. Research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. First Trust Advisors LP boosted its stake in T. Rowe Price Group by 137.7% in the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares in the last quarter. Norges Bank bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $82,756,000. Caisse de depot et placement du Quebec grew its holdings in shares of T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after buying an additional 584,949 shares during the last quarter. ARGA Investment Management LP increased its position in shares of T. Rowe Price Group by 3,807.3% during the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after acquiring an additional 464,949 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $37,722,000. 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.