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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned a consensus rating of “Reduce” from the fifteen research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $99.5385.

Several analysts recently issued reports on TROW shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Morgan Stanley set a $105.00 price objective on shares of T. Rowe Price Group in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st.

Insider Activity

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

Institutional Trading of T. Rowe Price Group

Several large investors have recently modified their holdings of the company. TD Private Client Wealth LLC raised its stake in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the period. Root Financial Partners LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at $30,000. Canton Hathaway LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its holdings in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Up 0.1%

TROW stock opened at $101.83 on Friday. The company has a market capitalization of $21.82 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 4.45 and a beta of 1.51. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $118.22. The firm has a 50 day moving average of $95.21 and a two-hundred day moving average of $99.15.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 earnings per share. On average, research analysts expect that T. Rowe Price Group will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

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.