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

Key Points

• T. Rowe Price Group, Inc. has received a consensus rating of "Reduce" from thirteen brokerages, with four analysts recommending a sell, eight recommending a hold, and one recommending a buy.
• The average 12-month target price for T. Rowe Price Group is $102.64, reflecting a cautious outlook from analysts.
• The company recently declared a quarterly dividend of $1.27, representing a 5.0% yield and a payout ratio of 56.76%.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have been given a consensus rating of "Reduce" by the thirteen brokerages that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $102.6364.

Several research firms have issued reports on TROW. Bank of America lifted their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research note on Thursday. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its holdings in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after purchasing an additional 36,190 shares during the period. Mather Group LLC. lifted its holdings in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after purchasing an additional 14,371 shares during the period. GAMMA Investing LLC lifted its holdings in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after purchasing an additional 24,323 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Up 0.6%

Shares of T. Rowe Price Group stock opened at $101.71 on Friday. The firm has a market cap of $22.35 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.62 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81. The stock's fifty day moving average price is $105.78 and its 200-day moving average price is $98.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 earnings per share. Analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

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.

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