T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $114.09 Average Target Price from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have received a consensus recommendation of "Reduce" from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $114.09.

TROW has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Barclays reduced their price objective 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. Morgan Stanley reduced their price objective on 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. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th.

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Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated 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 transaction, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its holdings in shares of T. Rowe Price Group by 7.0% in the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager's stock valued at $665,000 after acquiring an additional 400 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of T. Rowe Price Group by 2.7% in the 3rd quarter. Metis Global Partners LLC now owns 12,805 shares of the asset manager's stock valued at $1,395,000 after acquiring an additional 338 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of T. Rowe Price Group by 6.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,814 shares of the asset manager's stock valued at $633,000 after acquiring an additional 327 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of T. Rowe Price Group by 6.8% in the 3rd quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager's stock valued at $4,146,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of T. Rowe Price Group by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 7,780 shares of the asset manager's stock valued at $847,000 after acquiring an additional 159 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.21 during midday trading on Monday, hitting $92.83. 5,915,239 shares of the stock traded hands, compared to its average volume of 1,294,920. The firm has a 50-day moving average of $106.39 and a two-hundred day moving average of $111.19. The firm has a market capitalization of $20.67 billion, a P/E ratio of 10.13, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period in the prior year, the firm earned $1.72 EPS. Equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is 55.46%.

T. Rowe Price Group Company Profile

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.