T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $94.09 Consensus Target Price from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have been given a consensus rating of "Reduce" by the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $94.09.

Several brokerages have recently commented on TROW. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Barclays upped their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Finally, The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was 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 directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock valued at $646,856 in the last quarter. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after purchasing an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares in the last quarter. Fayez Sarofim & Co increased 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 acquiring an additional 425,142 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after acquiring an additional 116,231 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 43.2% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.1%

TROW stock traded down $0.08 on Wednesday, hitting $96.10. 1,899,352 shares of the company's stock traded hands, compared to its average volume of 1,523,807. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.12 and a beta of 1.49. The stock has a fifty day moving average of $93.03 and a 200-day moving average of $100.38.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. On average, equities research analysts anticipate 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 was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.29%. T. Rowe Price Group's payout ratio is 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.