T. Rowe Price Group (NASDAQ:TROW) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of T. Rowe Price Group (NASDAQ:TROW) from a buy rating to a hold rating in a research report released on Thursday.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced 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. Barclays boosted their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Down 0.2 %

T. Rowe Price Group stock opened at $112.84 on Thursday. The firm has a 50 day moving average price of $118.28 and a 200-day moving average price of $113.04. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The company has a market capitalization of $25.07 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results 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. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $37,000. Larson Financial Group LLC raised its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group in the third quarter worth $43,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Company Profile

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.