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

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average recommendation of “Reduce” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $105.6667.

TROW has been the subject of a number of recent analyst reports. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Barclays cut their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price objective 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.

T. Rowe Price Group Trading Down 1.0%

NASDAQ TROW opened at $111.24 on Monday. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.72 and a beta of 1.47. The company has a 50 day moving average of $114.35 and a 200-day moving average of $103.34. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group will post 10.15 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is currently 52.16%.

Insider Activity

In other news, VP Joshua B. Nelson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were 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 directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. SVB Wealth LLC raised its position in shares of T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after acquiring an additional 16,155 shares in the last quarter. Generali Asset Management SPA SGR increased its stake in shares of T. Rowe Price Group by 1,680.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock valued at $1,814,000 after acquiring an additional 16,720 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of T. Rowe Price Group by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after acquiring an additional 18,952 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $2,989,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in T. Rowe Price Group during the fourth quarter worth $5,935,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.