T. Rowe Price Group (NASDAQ:TROW) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of T. Rowe Price Group (NASDAQ:TROW - Free Report) from a buy rating to a hold rating in a research note released on Thursday.

TROW has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a report on Thursday, October 3rd. TD Cowen dropped their price target on 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 upped their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.00.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $0.28 during trading on Thursday, hitting $112.84. The stock had a trading volume of 1,094,344 shares, compared to its average volume of 1,037,389. The business has a fifty day moving average of $118.28 and a two-hundred day moving average of $113.04. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market cap of $25.07 billion, a P/E ratio of 12.35, a PEG ratio of 1.73 and a beta of 1.43.

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

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds have recently bought and sold shares of TROW. Iron Horse Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the third quarter worth approximately $37,000. Larson Financial Group LLC grew its holdings in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group in the third quarter worth $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.

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.