T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $96.45 Average PT from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has received an average rating of "Reduce" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $94.09.

A number of research firms have issued reports on TROW. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Barclays raised their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley raised their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Addison Advisors LLC grew its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $27,000. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $32,000. Finally, Advantage Trust Co grew its position in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $0.08 during midday trading on Tuesday, reaching $92.74. 958,585 shares of the stock traded hands, compared to its average volume of 1,478,345. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The business has a 50-day moving average of $90.62 and a two-hundred day moving average of $106.22. The stock has a market capitalization of $20.43 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. T. Rowe Price Group's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.38 EPS. Research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.48%. T. Rowe Price Group's payout ratio is currently 57.60%.

About T. Rowe Price Group

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.