T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $100.54 Consensus Target Price from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average rating of “Reduce” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $100.5385.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Jefferies Financial Group cut 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 report on Wednesday, April 8th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Finally, Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $120.16 on Friday. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $121.17. The stock has a market cap of $25.75 billion, a P/E ratio of 12.88, a P/E/G ratio of 6.05 and a beta of 1.47. The firm has a fifty day moving average price of $106.58 and a 200 day moving average price of $100.56.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 earnings per share. Sell-side analysts expect that T. Rowe Price Group will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.3%. T. Rowe Price Group’s payout ratio is 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the 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 completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of 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 purchasing an additional 6,740,172 shares during the last quarter. First Trust Advisors LP grew its holdings in T. Rowe Price Group by 126.5% during the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after buying an additional 1,832,231 shares during the last quarter. Norges Bank purchased a new position in T. Rowe Price Group during the fourth quarter worth $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth $61,073,000. Finally, Caisse de depot et placement du Quebec raised its holdings in shares of 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 acquiring an additional 584,949 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.