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

Key Points

• T. Rowe Price Group, Inc. has received a consensus rating of "Reduce" from analysts, with four sell recommendations and eight hold ratings.
• The average 12-month price target among analysts is $101.09, with recent price targets ranging from $95.00 to $116.00 from various firms.
• The company recently announced a quarterly dividend of $1.27, yielding 4.6%, with the ex-dividend date set for September 15.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have earned a consensus rating of "Reduce" from the twelve analysts that are currently covering the stock, Marketbeat.com 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 $101.0909.

TROW has been the topic of several analyst reports. Barclays reaffirmed an "underweight" rating and issued a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, Morgan Stanley increased their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th.

Insider Buying and Selling

In related news, 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 transaction, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager's stock worth $25,000 after buying an additional 100 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group in the 1st quarter worth $27,000. Vermillion & White Wealth Management Group LLC increased its stake in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager's stock worth $31,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group in the 2nd quarter worth $35,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 2.1%

TROW stock opened at $109.95 on Thursday. The stock has a market capitalization of $24.16 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.93 and a beta of 1.47. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The stock's 50 day simple moving average is $100.36 and its 200 day simple moving average is $98.02.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. On average, research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 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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