Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $96.64

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has received a consensus recommendation of "Reduce" from the twelve research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $96.64.

A number of research analysts recently commented on TROW shares. Citigroup lowered their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Finally, Evercore ISI decreased their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its holdings in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of T. Rowe Price Group by 49.4% in the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after acquiring an additional 73,307 shares during the last quarter. Mather Group LLC. increased its holdings in shares of T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after acquiring an additional 14,371 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after acquiring an additional 36,190 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after acquiring an additional 329,761 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.6%

Shares of T. Rowe Price Group stock traded down $0.64 during trading hours on Friday, reaching $105.77. 4,819,403 shares of the stock traded hands, compared to its average volume of 1,580,732. The company has a 50 day moving average price of $96.63 and a 200 day moving average price of $98.82. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 3.14 and a beta of 1.49. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 EPS. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 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.