T. Rowe Price Group (NASDAQ:TROW) Sets New 52-Week Low – Here’s Why

T. Rowe Price Group, Inc. (NASDAQ:TROW)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $86.26 and last traded at $88.55, with a volume of 3445311 shares changing hands. The stock had previously closed at $88.86.

Analyst Ratings Changes

Several research analysts recently weighed in on TROW shares. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Barclays lowered their price objective on T. Rowe Price Group from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $96.00.

T. Rowe Price Group Trading Down 0.3 %

The company has a fifty day moving average of $92.47 and a 200-day moving average of $107.30. The stock has a market cap of $19.68 billion, a PE ratio of 9.67, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the company earned $1.72 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.74%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. Nilsine Partners LLC increased its position in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. grew its stake in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the last quarter. Amundi increased its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Schroder Investment Management Group lifted its stake in T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after buying an additional 73,307 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of T. Rowe Price Group by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after acquiring an additional 20,062 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.