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

Key Points

• Analyst sentiment is cautious: T. Rowe Price Group has a consensus rating of “Reduce” from 15 analysts, with four sell ratings and 11 hold ratings. The average 1-year price target is about $100.54.
• Recent earnings beat expectations: The company reported quarterly EPS of $2.52, topping estimates by $0.15, while revenue of $1.86 billion also edged above forecasts. Revenue rose 5.3% year over year.
• The stock is trading near its highs and pays a solid dividend: Shares recently opened at $118.55, close to the 52-week high of $118.64, and the company pays a quarterly dividend of $1.30, or 4.4% annualized yield.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $100.5385.

Several brokerages have recently weighed in on TROW. Barclays upped their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a research report on Friday, May 1st. Evercore boosted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. TD Cowen upped their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Finally, BMO Capital Markets increased their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a research report on Monday, May 4th.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC boosted its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $31,000. Sound Income Strategies LLC raised its position in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after purchasing an additional 189 shares in the last quarter. Finally, DV Equities LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $118.55 on Friday. The firm's fifty day simple moving average is $105.76 and its 200 day simple moving average is $100.36. T. Rowe Price Group has a twelve month low of $85.22 and a twelve month high of $118.64. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 6.02 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm earned $2.23 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group will post 9.69 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. T. Rowe Price Group's dividend payout ratio is 55.73%.

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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