T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $115.09 Consensus Target Price from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received an average recommendation of “Reduce” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.09.

Several research firms have issued reports on TROW. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % 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 company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC boosted its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.3 %

Shares of T. Rowe Price Group stock opened at $106.57 on Thursday. The firm has a market capitalization of $23.73 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44. The business has a fifty day simple moving average of $112.54 and a two-hundred day simple moving average of $112.43. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $1.72 earnings per share. Analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.77%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

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.