T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Has Average Price Target of $104.69 According to Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned a consensus recommendation of “Reduce” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $104.08.

TROW has been the subject of a number of analyst reports. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. UBS Group started coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. BMO Capital Markets decreased their target price on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $107.00 to $106.00 and set an “underweight” rating on the stock in a report on Tuesday.

Insider Activity at T. Rowe Price Group

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Walser Wealth Management Company A Ltd Liability Co grew its holdings in shares of T. Rowe Price Group by 19.1% during the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 11,316 shares of the asset manager’s stock worth $1,177,000 after purchasing an additional 1,814 shares during the period. V Square Quantitative Management LLC increased its position in shares of T. Rowe Price Group by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,015 shares of the asset manager’s stock worth $1,146,000 after purchasing an additional 520 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of T. Rowe Price Group by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 150,810 shares of the asset manager’s stock worth $15,692,000 after purchasing an additional 56,831 shares during the last quarter. Brindle & Bay Financial Advisors LLC raised its holdings in T. Rowe Price Group by 32.0% in the 3rd quarter. Brindle & Bay Financial Advisors LLC now owns 12,210 shares of the asset manager’s stock valued at $1,270,000 after buying an additional 2,962 shares during the period. Finally, Retirement Planning Co of New England Inc. raised its holdings in T. Rowe Price Group by 5.6% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 7,582 shares of the asset manager’s stock valued at $789,000 after buying an additional 404 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price’s latest reported quarter showed solid operating momentum, with earnings and revenue exceeding analyst expectations and revenue rising year over year. That performance may be supporting investor confidence ahead of the next results. T. Rowe Price Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: The company is expanding field-sales coverage and strengthening its wealth-leadership and product-specialist teams. The moves could improve distribution and support asset gathering over time. T. Rowe Price Expands Sales and Wealth Teams
• Neutral Sentiment: Multiple earnings previews indicate that the upcoming report is the main near-term catalyst. Investors will likely focus on earnings, revenue, net flows, fee trends and management’s outlook. T. Rowe Price Earnings Preview: What to Expect
• Neutral Sentiment: Analysts were described as neutral on T. Rowe Price among selected financial stocks, suggesting limited consensus about the shares’ next direction. Analysts Are Neutral on Top Financial Stocks
• Negative Sentiment: Barclays lowered its price target from $103 to $102 and kept an “underweight” rating, implying limited upside from the referenced share price. BMO Capital Markets Cuts T. Rowe Price Price Target
• Negative Sentiment: JPMorgan issued a pessimistic forecast, adding to concerns about valuation, asset flows or the broader outlook for active asset managers. JPMorgan Issues Pessimistic Forecast for T. Rowe Price

T. Rowe Price Group Stock Up 1.8%

Shares of NASDAQ:TROW opened at $101.37 on Tuesday. The business has a fifty day moving average of $107.53 and a two-hundred day moving average of $106.71. The stock has a market cap of $21.62 billion, a P/E ratio of 9.63, a PEG ratio of 4.33 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 issued its 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $2.24 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group will post 10.10 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued 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 5.1%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

About T. Rowe Price Group

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.