Barclays Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target reduced by Barclays from $105.00 to $85.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the asset manager's stock.

TROW has been the topic of a number of other reports. Evercore ISI cut their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Citigroup decreased their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Bank of America reduced their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $96.00.

T. Rowe Price Group Stock Performance

TROW stock traded up $0.74 during midday trading on Wednesday, hitting $86.11. 4,903,880 shares of the company's stock were exchanged, compared to its average volume of 1,454,093. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The stock's fifty day moving average price is $95.65 and its 200-day moving average price is $108.40. The company has a market cap of $19.14 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm earned $1.72 EPS. On average, analysts expect that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business'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 transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TROW. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $27,000. Y.D. More Investments Ltd increased its holdings in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group during the 4th quarter worth $32,000. Finally, Advantage Trust Co lifted its holdings in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.