T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Average Rating of “Reduce” by Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus rating of “Reduce” from the eleven brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $117.00.

A number of research firms have recently issued reports on TROW. Barclays upped their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Evercore ISI lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the period. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after acquiring an additional 25,481 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after acquiring an additional 124,686 shares during the period. American Century Companies Inc. raised its position in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares in the last quarter. Finally, Provident Trust Co. lifted its stake in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $114.69 on Wednesday. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The firm has a market cap of $25.48 billion, a PE ratio of 12.55, a PEG ratio of 1.73 and a beta of 1.43. The company has a 50 day simple moving average of $118.14 and a two-hundred day simple moving average of $113.11.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 EPS. As a group, research analysts anticipate that T. Rowe Price Group will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

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.