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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) have been given a consensus recommendation of "Reduce" by the eleven brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $114.09.

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods reiterated 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 report on Thursday, February 6th. Barclays lowered 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 report on Thursday, February 6th. Morgan Stanley lowered 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 report on Monday, February 24th. Wells Fargo & Company lowered 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 report on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd.

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Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the 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 sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nilsine Partners LLC raised its stake in T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock valued at $623,000 after buying an additional 2,370 shares in the last quarter. Principal Financial Group Inc. raised its stake in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Amundi raised its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after buying an additional 397,278 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in T. Rowe Price Group by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after buying an additional 20,062 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock valued at $3,267,000 after buying an additional 1,100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded down $0.62 during trading hours on Monday, reaching $93.43. The company had a trading volume of 1,112,537 shares, compared to its average volume of 1,275,742. The stock has a fifty day moving average of $107.10 and a 200-day moving average of $111.36. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group has a 12-month low of $91.37 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly 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 net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the business earned $1.72 earnings per share. On average, analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 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.