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

Key Points

• T. Rowe Price Group has a consensus analyst rating of "Reduce", with 4 sell ratings and 11 hold ratings from the 15 brokerages covering the stock. The average 1-year price target is about $99.54.
• The company recently posted better-than-expected first-quarter results, earning $2.52 per share versus the $2.37 estimate and generating $1.86 billion in revenue, up 5.3% year over year. Analysts now expect full-year EPS of 9.61.
• T. Rowe Price also announced a quarterly dividend of $1.30 per share, implying an annualized payout of $5.20 and a 5.1% yield. Meanwhile, institutional ownership remains high at 73.39%, and an insider recently sold 3,000 shares.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have been given a consensus recommendation of "Reduce" by the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $99.5385.

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of 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. Barclays boosted their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a report on Friday, May 1st. BMO Capital Markets boosted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a "market perform" rating in a research report on Monday, May 4th. Finally, Argus upgraded shares of T. Rowe Price Group to a "hold" rating in a research report on Thursday, February 5th.

Insiders Place Their Bets

In related 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 sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently bought and sold shares of the business. State Street Corp increased its position in T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager's stock worth $1,449,680,000 after purchasing an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 worth $897,880,000 after purchasing an additional 6,740,172 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager's stock worth $826,600,000 after purchasing an additional 143,109 shares during the last quarter. First Trust Advisors LP increased its position in T. Rowe Price Group by 12.6% in the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager's stock worth $332,993,000 after purchasing an additional 413,317 shares during the last quarter. Finally, Invesco Ltd. increased its position in T. Rowe Price Group by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager's stock worth $360,465,000 after purchasing an additional 131,438 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $102.01 on Friday. T. Rowe Price Group has a one year low of $85.22 and a one year high of $118.22. The company's fifty day moving average price is $94.55 and its 200-day moving average price is $99.23. The company has a market capitalization of $21.86 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 4.48 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that T. Rowe Price Group will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group's payout ratio is currently 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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