Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $117.00

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average rating of “Reduce” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $117.00.

Several research analysts recently issued reports on the company. Barclays lifted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. TD Cowen cut their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Iron Horse Wealth Management LLC increased its holdings in 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 during the period. Hexagon Capital Partners LLC raised its position in shares of T. Rowe Price Group by 54.7% in the third 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. True Wealth Design LLC purchased a new position in T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC increased its stake in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at about $43,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $114.69 on Wednesday. The business has a 50-day simple moving average of $118.08 and a 200 day simple moving average of $113.19. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) 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.