T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Has Average Target Price of $102.83

Key Points

• Analyst sentiment is cautious: Fourteen firms give T. Rowe Price an average “Reduce” recommendation—10 holds, three sells, and one buy—with an average 12-month price target of $102.83.
• Quarterly results beat expectations: The asset manager reported EPS of $2.86 versus $2.63 expected and revenue of $2 billion; revenue rose 5.9% year over year.
• Dividend yield is 4.8%: The company declared a quarterly dividend of $1.30 per share, equivalent to $5.20 annually.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been given an average recommendation of "Reduce" by the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $102.83.

Several equities research analysts recently issued reports on TROW shares. BMO Capital Markets dropped their price target on shares of T. Rowe Price Group from $120.00 to $110.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Barclays reduced their target price on T. Rowe Price Group from $103.00 to $102.00 and set an "underweight" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $106.00 to $107.00 and gave the stock an "underweight" rating in a report on Friday, October 30th.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Hamel Associates Inc. purchased a new position in T. Rowe Price Group during the third quarter valued at $896,000. Moors & Cabot Inc. bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $202,000. Carl P. Sherr & Co. LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $219,000. Allworth Financial LP raised its stake in shares of T. Rowe Price Group by 10.5% in the third quarter. Allworth Financial LP now owns 7,043 shares of the asset manager's stock worth $801,000 after acquiring an additional 667 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. grew its position in T. Rowe Price Group by 5.7% in the third quarter. Eurizon Capital SGR S.p.A. now owns 61,287 shares of the asset manager's stock valued at $6,382,000 after purchasing an additional 3,295 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.3%

NASDAQ:TROW opened at $108.41 on Friday. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 3.39 and a beta of 1.43. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00. The stock's 50 day moving average price is $105.26 and its two-hundred day moving average price is $103.78.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.23. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.81 EPS. Equities research analysts expect that T. Rowe Price Group will post 10.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Wednesday, December 16th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 16th. T. Rowe Price Group's dividend payout ratio is 52.58%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.

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