T. Rowe Price Group (NASDAQ:TROW) Sets New 1-Year Low Following Analyst Downgrade

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) hit a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $103.00 to $89.00. The Goldman Sachs Group currently has a sell rating on the stock. T. Rowe Price Group traded as low as $85.74 and last traded at $86.57, with a volume of 1184370 shares. The stock had previously closed at $93.90.

TROW has been the topic of a number of other reports. Citigroup decreased their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered their price target 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 report on Monday, February 24th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $108.50.

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Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated 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 $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after acquiring an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after purchasing an additional 346,369 shares during the last quarter. Fayez Sarofim & Co raised its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after buying an additional 116,231 shares during the last quarter. Finally, Provident Trust Co. boosted its holdings in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after buying an additional 213,566 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 0.1 %

The stock's fifty day moving average is $101.54 and its two-hundred day moving average is $110.12. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business earned $1.72 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 6.21%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 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.