T. Rowe Price Group (NASDAQ:TROW) Hits New 52-Week Low – Here’s Why

T. Rowe Price Group, Inc. (NASDAQ:TROW) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $96.88 and last traded at $97.08, with a volume of 344798 shares changing hands. The stock had previously closed at $98.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TROW shares. Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays decreased their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Trading Down 1.4 %

The company has a fifty day moving average of $109.86 and a 200-day moving average of $112.06. The company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the business earned $1.72 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.22%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently added to or reduced their stakes in TROW. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth $117,704,000. Marshall Wace LLP acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $63,284,000. Fayez Sarofim & Co raised its stake in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares during the period. Amundi boosted its holdings in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after buying an additional 387,604 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.