T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $100.54 Consensus PT from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given an average recommendation of “Reduce” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $100.5385.

A number of brokerages have recently commented on TROW. TD Cowen lifted their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Evercore raised their price objective on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. BMO Capital Markets lifted their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Finally, Barclays increased their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st.

T. Rowe Price Group Stock Down 0.8%

NASDAQ:TROW opened at $117.05 on Friday. The stock’s 50 day moving average price is $107.24 and its 200 day moving average price is $100.76. The company has a market capitalization of $25.08 billion, a PE ratio of 12.55, a P/E/G ratio of 5.99 and a beta of 1.47. T. Rowe Price Group has a 52-week low of $85.22 and a 52-week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently modified their holdings of TROW. Wealthcare Capital Partners LLC increased its stake in T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after buying an additional 93 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of T. Rowe Price Group by 1.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,111 shares of the asset manager’s stock worth $1,491,000 after acquiring an additional 170 shares during the period. Wynn Capital LLC lifted its stake in shares of T. Rowe Price Group by 3.6% in the 2nd quarter. Wynn Capital LLC now owns 5,338 shares of the asset manager’s stock worth $607,000 after acquiring an additional 186 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at about $79,000. Finally, Czech National Bank increased its stake in shares of T. Rowe Price Group by 2.4% during the second quarter. Czech National Bank now owns 60,989 shares of the asset manager’s stock worth $6,934,000 after acquiring an additional 1,454 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.