T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives Average Recommendation of “Reduce” from Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROW) has received an average recommendation of “Reduce” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $115.55.

A number of brokerages have recently commented on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC boosted its position 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 purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC boosted its position in shares of 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 buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc boosted its position in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.1 %

TROW opened at $118.66 on Tuesday. T. Rowe Price Group has a 12-month low of $96.46 and a 12-month high of $122.27. The firm has a market capitalization of $26.36 billion, a PE ratio of 12.98, a P/E/G ratio of 1.68 and a beta of 1.41. The firm has a 50 day moving average of $111.07 and a two-hundred day moving average of $112.25.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted $2.17 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.18%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

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.