T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $117.00 Average Price Target from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average rating of “Reduce” from the eleven research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $117.00.

Several research firms recently commented on TROW. Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Evercore ISI raised their target price on shares of 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, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th.

Insider Buying and Selling 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 that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC boosted its holdings 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 acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in 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 acquiring an additional 104 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $37,000. Larson Financial Group LLC raised its stake in shares of T. Rowe Price Group by 866.7% in the third 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 last quarter. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group in the 3rd quarter worth about $43,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Up 1.1 %

NASDAQ TROW opened at $114.69 on Wednesday. The stock’s 50-day simple moving average is $118.08 and its two-hundred day simple moving average is $113.19. 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 $25.48 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. On average, equities analysts expect that T. Rowe Price Group will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

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.