T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Has Consensus Price Target of $104.69

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

TROW has been the topic of a number of recent research reports. The Goldman Sachs Group upped 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 report on Tuesday, June 30th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $107.00 to $106.00 and set an “underweight” rating for the company in a research note on Tuesday, October 13th. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th.

Insider Transactions at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $2,728,119,000. Legal & General Group Plc acquired a new stake in T. Rowe Price Group in the second quarter worth $183,130,000. Bank of America Corp DE bought a new stake in T. Rowe Price Group in the second quarter valued at $170,572,000. Bank of New York Mellon Corp bought a new stake in T. Rowe Price Group in the second quarter valued at $167,984,000. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of T. Rowe Price Group during the second quarter valued at $132,649,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.4%

Shares of NASDAQ TROW opened at $100.97 on Tuesday. The firm has a 50-day moving average price of $107.27 and a 200 day moving average price of $106.67. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 4.39 and a beta of 1.45. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $2.24 earnings per share. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.2%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.