T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have received an average recommendation of "Reduce" from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $100.09.

TROW has been the subject of several research analyst reports. Barclays reduced their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday. Morgan Stanley cut their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America lowered their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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Institutional Investors Weigh In On T. Rowe Price Group

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

T. Rowe Price Group Stock Performance

TROW traded down $1.15 during trading on Friday, reaching $88.17. 825,388 shares of the stock were exchanged, compared to its average volume of 1,439,128. The stock's 50 day moving average price is $97.55 and its two-hundred day moving average price is $109.02. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a market cap of $19.60 billion, a P/E ratio of 9.63, 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 issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the company earned $1.72 earnings per share. Equities research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal 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 5.76%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.46%.

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.