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

Key Points

• Analysts hold a consensus “Reduce” rating on T. Rowe Price Group, with four sells and ten holds among 14 brokerages. The average 12-month price target is $105.67, below the stock’s reported $111.51 price.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 in EPS versus a $2.52 estimate and $1.91 billion in revenue, up 10.7% year over year.
• The company declared a quarterly dividend of $1.30 per share, representing $5.20 annually and a 4.7% yield; institutional investors own 73.39% of the stock.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has received a consensus recommendation of "Reduce" from the fourteen brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $105.6667.

Several research firms have recently issued reports on TROW. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research note on Wednesday, July 29th. Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Barclays dropped their target price on shares of T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a report on Monday, August 3rd. BMO Capital Markets lifted their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Finally, Evercore set a $118.00 price target on shares of T. Rowe Price Group in a report on Monday, August 10th.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth about $2,728,119,000. Goldman Sachs Group Inc. raised its position in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock valued at $897,880,000 after buying an additional 6,740,172 shares during the last quarter. First Trust Advisors LP raised its position in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager's stock valued at $335,894,000 after buying an additional 1,832,231 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $183,130,000. Finally, Bank of America Corp DE purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $170,572,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW stock opened at $111.51 on Monday. The firm has a 50 day moving average of $113.94 and a 200-day moving average of $102.84. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 3.70 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $2.24 EPS. The company's revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that T. Rowe Price Group will post 10.14 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 52.16%.

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.

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