T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives Average Rating of "Reduce" from Brokerages

Key Points

• T. Rowe Price Group, Inc. has received a consensus rating of "Reduce" from twelve analysts, with four analysts giving a sell rating and eight providing a hold rating.
• The company reported an earnings per share (EPS) of $2.24 for its latest quarter, exceeding the consensus estimate of $2.15, although its revenue decreased by 0.6% year-over-year.
• A quarterly dividend of $1.27 per share will be paid on September 29th, representing a 4.7% dividend yield based on the annualized dividend.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have received a consensus rating of "Reduce" from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $101.5455.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday. Barclays reissued an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value 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. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager's stock worth $2,549,213,000 after buying an additional 130,325 shares in the last quarter. State Street Corp grew its stake in shares of T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager's stock worth $1,400,241,000 after buying an additional 211,647 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager's stock worth $757,200,000 after buying an additional 140,385 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager's stock worth $578,059,000 after buying an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager's stock worth $332,415,000 after buying an additional 11,036 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $108.16 on Monday. The company has a market capitalization of $23.76 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 2.82 and a beta of 1.51. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The company's fifty day moving average price is $104.94 and its 200-day moving average price is $97.40.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $2.26 EPS. The company's revenue was down .6% on a year-over-year basis. Equities research 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 Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's payout ratio is 56.76%.

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.

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