T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $113.10 Consensus Target Price from Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received an average recommendation of “Reduce” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $113.10.

TROW has been the subject of several research reports. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Barclays assumed coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd.

T. Rowe Price Group Price Performance

Shares of TROW opened at $106.04 on Thursday. The company’s fifty day moving average price is $111.93 and its 200-day moving average price is $113.80. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $122.27. The firm has a market capitalization of $23.68 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 EPS. As a group, research analysts anticipate that T. Rowe Price Group will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its holdings in T. Rowe Price Group by 89.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager’s stock valued at $939,000 after acquiring an additional 4,119 shares during the last quarter. Choreo LLC boosted its holdings in T. Rowe Price Group by 65.0% in the 4th quarter. Choreo LLC now owns 6,677 shares of the asset manager’s stock worth $719,000 after acquiring an additional 2,631 shares during the period. Van ECK Associates Corp grew its holdings in T. Rowe Price Group by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 36,261 shares of the asset manager’s stock valued at $3,905,000 after purchasing an additional 1,025 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in shares of T. Rowe Price Group by 6.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,909 shares of the asset manager’s stock valued at $529,000 after acquiring an additional 309 shares in the last quarter. Finally, Certuity LLC acquired a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $228,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.