T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $113.00 Consensus Price Target from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been given an average rating of “Reduce” by the ten brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $113.10.

TROW has been the topic of several recent research reports. StockNews.com raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research report on Friday. Morgan Stanley raised their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock worth $740,408 over the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in the stock. Morgan Stanley grew its holdings in T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the period. Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of T. Rowe Price Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after purchasing an additional 236,697 shares during the period. First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 1.3% during the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after buying an additional 15,504 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $130,386,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $118.02 on Wednesday. The firm has a 50 day simple moving average of $115.85 and a 200 day simple moving average of $113.42. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm has a market cap of $26.35 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group will post 8.93 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.