T. Rowe Price Group (NASDAQ:TROW) Sets New 12-Month Low – What’s Next?

T. Rowe Price Group, Inc. (NASDAQ:TROW) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $96.88 and last traded at $97.08, with a volume of 344798 shares trading hands. The stock had previously closed at $98.77.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Stock Down 1.4 %

The company’s 50 day simple moving average is $109.86 and its two-hundred day simple moving average is $112.06. The company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $1.72 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value 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 approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently made changes to their positions in the company. Capstone Triton Financial Group LLC lifted its position in T. Rowe Price Group by 8.6% during the 4th quarter. Capstone Triton Financial Group LLC now owns 6,347 shares of the asset manager’s stock worth $718,000 after acquiring an additional 501 shares during the period. Aegis Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $240,000. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $235,000. Siemens Fonds Invest GmbH boosted its position in T. Rowe Price Group by 1,019.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 51,378 shares of the asset manager’s stock valued at $5,810,000 after buying an additional 46,787 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in T. Rowe Price Group in the 4th quarter worth approximately $61,000. 73.39% of the stock is owned by institutional investors and hedge funds.

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.