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

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been assigned an average rating of "Reduce" from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $94.09.

Several research firms recently weighed in on TROW. Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Barclays raised their price objective on 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. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Evercore ISI dropped their price objective 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, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now owns 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,923 shares of company stock valued at $646,856. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds have recently made changes to their positions in the business. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the first quarter valued at $27,000. Hexagon Capital Partners LLC boosted its holdings in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group in the first quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

TROW opened at $95.10 on Wednesday. The business has a 50 day simple moving average of $92.44 and a 200-day simple moving average of $100.94. The stock has a market capitalization of $20.95 billion, a P/E ratio of 10.78, a P/E/G ratio of 3.05 and a beta of 1.49. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81.

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 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during 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 company's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Research analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is 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.

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