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

Key Points

• T. Rowe Price Group has a consensus analyst rating of "Reduce", with 4 sell ratings and 11 hold ratings among 15 covering brokerages. The average 12-month price target is about $100.08.
• The company reported better-than-expected quarterly results, posting EPS of $2.52 versus the $2.37 estimate and revenue of $1.86 billion versus $1.85 billion expected. Revenue rose 5.3% from a year earlier.
• T. Rowe Price also announced a quarterly dividend of $1.30 per share, equal to a $5.20 annualized payout and a 4.9% yield. The stock recently traded at $105.91, near its 50-day and 200-day moving averages.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have been assigned a consensus rating of "Reduce" from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $100.0769.

Several research firms recently issued reports on TROW. Jefferies Financial Group cut their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 8th. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a report on Monday, April 27th. Evercore upped their price target on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a "market perform" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, April 24th.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of T. Rowe Price Group

Large investors have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC raised its stake in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after buying an additional 189 shares in the last quarter. Finally, DV Equities LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.4%

TROW stock opened at $105.91 on Wednesday. The company has a market capitalization of $22.69 billion, a PE ratio of 11.35, a P/E/G ratio of 5.40 and a beta of 1.50. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $118.22. The business's fifty day moving average price is $99.71 and its 200 day moving average price is $99.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.23 EPS. Research analysts predict that T. Rowe Price Group will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's dividend payout ratio is currently 55.73%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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