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

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been given a consensus recommendation of "Reduce" by the twelve analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $94.09.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. 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 research report on Monday, April 14th. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Evercore ISI decreased their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $117,704,000. Invesco Ltd. grew its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the period. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $63,284,000. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. Finally, Fayez Sarofim & Co lifted its holdings in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after purchasing an additional 425,142 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 1.0%

TROW stock traded down $0.98 during mid-day trading on Friday, hitting $93.33. The stock had a trading volume of 2,885,583 shares, compared to its average volume of 1,496,164. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a fifty day moving average of $90.66 and a 200 day moving average of $104.26.

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 for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $2.38 EPS. T. Rowe Price Group's revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 5.44%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

T. Rowe Price Group Company Profile

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.