T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $115.55 Average PT from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has received an average recommendation of "Reduce" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $115.55.

TROW has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Barclays lifted their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Forsta AP Fonden boosted its stake in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock worth $8,083,000 after acquiring an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager's stock valued at $11,057,000 after acquiring an additional 42,949 shares in the last quarter. Savant Capital LLC boosted its stake in T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock worth $3,792,000 after purchasing an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in T. Rowe Price Group by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager's stock valued at $20,890,000 after purchasing an additional 6,780 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in T. Rowe Price Group by 3.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager's stock valued at $29,105,000 after purchasing an additional 9,519 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $0.14 during trading hours on Tuesday, hitting $118.07. 1,227,679 shares of the company's stock traded hands, compared to its average volume of 1,262,281. The company has a fifty day simple moving average of $109.56 and a 200-day simple moving average of $111.99. The stock has a market capitalization of $26.23 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.71 and a beta of 1.41. T. Rowe Price Group has a 12-month low of $91.40 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.17 earnings per share. On average, analysts forecast that T. Rowe Price Group will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.20%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

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.