T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Average Rating of "Reduce" by Analysts

Key Points

• Consensus "Reduce" — 15 analysts covering T. Rowe Price now have a consensus recommendation of "Reduce" (5 sell, 10 hold), with the average 1‑year price target at $96.85 and several firms recently lowering targets.
• Quarterly results showed $2.44 EPS (missed by $0.03) and $1.93B revenue (slightly above expectations), with revenue up 6% year‑over‑year and analysts projecting about $9.69 EPS for the current year.
• The company boosted its quarterly dividend to $1.30 (annualized $5.20), implying a 5.3% yield and a ~56% payout ratio, while shares trade around $98 within a 12‑month range of $82.86–$118.22.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $96.8462.

Several analysts have recently commented on the stock. Argus upgraded shares of T. Rowe Price Group to a "hold" rating in a research report on Thursday, February 5th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group lowered their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $115.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of T. Rowe Price Group from $106.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, February 5th.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $98.10 on Tuesday. The business's 50 day simple moving average is $91.88 and its 200-day simple moving average is $99.44. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 4.20 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $82.86 and a 12 month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.T. Rowe Price Group's revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. On average, equities analysts anticipate that T. Rowe Price Group will post 9.69 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $1.30 dividend. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, March 16th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.22%.

Institutional Trading of T. Rowe Price Group

Several large investors have recently modified their holdings of the business. Essex Bank grew its position in shares of T. Rowe Price Group by 3.6% in the third quarter. Essex Bank now owns 2,914 shares of the asset manager's stock valued at $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC lifted its stake in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager's stock valued at $231,000 after buying an additional 102 shares during the period. MTM Investment Management LLC lifted its stake in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock valued at $324,000 after buying an additional 107 shares during the period. GenTrust LLC lifted its stake in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock valued at $216,000 after buying an additional 110 shares during the period. Finally, Fiduciary Trust Co lifted its stake in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock valued at $265,000 after buying an additional 111 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.