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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have earned an average recommendation of "Reduce" from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $115.55.

TROW has been the subject of several recent research reports. Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped 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, November 11th.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently modified their holdings of the business. Iron Horse Wealth Management LLC raised its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group in the second quarter valued at $36,000. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the third quarter valued at $37,000. Finally, Larson Financial Group LLC grew its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after acquiring an additional 312 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded down $0.86 during mid-day trading on Friday, hitting $123.83. 1,092,898 shares of the stock were exchanged, compared to its average volume of 1,249,661. The firm's 50-day simple moving average is $114.97 and its 200 day simple moving average is $113.08. The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. T. Rowe Price Group has a fifty-two week low of $97.50 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company's revenue was up 6.9% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's payout ratio is 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.