T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $105.67 Average Price Target from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $105.6667.

Several equities research analysts recently weighed in on the company. Barclays decreased their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. 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. Finally, TD Cowen increased their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, August 3rd.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $112.55 on Monday. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $122.00. The firm has a market capitalization of $24.01 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 3.74 and a beta of 1.47. The business’s fifty day moving average price is $114.18 and its 200 day moving average price is $103.16.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 EPS. As a group, equities analysts anticipate that T. Rowe Price Group will post 10.15 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Insider Activity

In other news, VP Joshua B. Nelson sold 10,000 shares of T. Rowe Price Group 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 sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wealthcare Capital Partners LLC increased its holdings in T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC grew its position in shares of T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after buying an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after buying an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after buying an additional 100 shares during the period. Finally, Concorde Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.