Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) PT at $115.55

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given an average rating of “Reduce” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $115.55.

TROW has been the topic of several analyst reports. Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley raised their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday.

T. Rowe Price Group Trading Up 1.1 %

NASDAQ TROW opened at $119.80 on Tuesday. T. Rowe Price Group has a 12 month low of $96.46 and a 12 month high of $122.27. The stock has a 50-day simple moving average of $110.11 and a 200 day simple moving average of $112.06. The company has a market capitalization of $26.61 billion, a PE ratio of 12.96, a P/E/G ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business posted $2.17 EPS. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently added to or reduced their stakes in TROW. Forsta AP Fonden grew its position in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after acquiring an additional 17,100 shares during the period. Mizuho Markets Americas LLC lifted its stake in T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after purchasing an additional 42,949 shares during the last quarter. Savant Capital LLC grew its holdings in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after purchasing an additional 8,816 shares during the period. CANADA LIFE ASSURANCE Co increased its position in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after buying an additional 6,780 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in T. Rowe Price Group by 3.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock valued at $29,105,000 after buying an additional 9,519 shares during the period. 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.