T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $104.75 Average PT from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have received a consensus rating of “Reduce” from the eleven research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $101.36.

Several equities research analysts have recently weighed in on TROW shares. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley reduced their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a report on Thursday, April 3rd. Finally, Citigroup reduced 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 note on Monday, March 31st.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in TROW. Gateway Investment Advisers LLC raised its position in shares of T. Rowe Price Group by 13.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 6,686 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 815 shares during the period. Davis Capital Management increased its stake in T. Rowe Price Group by 101.5% in the first quarter. Davis Capital Management now owns 2,357 shares of the asset manager’s stock valued at $217,000 after purchasing an additional 1,187 shares in the last quarter. Curat Global LLC acquired a new stake in T. Rowe Price Group in the first quarter worth $60,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of T. Rowe Price Group by 21.4% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,913 shares of the asset manager’s stock worth $1,278,000 after purchasing an additional 2,457 shares in the last quarter. Finally, Columbia Asset Management boosted its position in shares of T. Rowe Price Group by 57.3% during the first quarter. Columbia Asset Management now owns 14,484 shares of the asset manager’s stock worth $1,331,000 after purchasing an additional 5,275 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 3.3 %

Shares of TROW opened at $88.74 on Friday. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50. The company has a 50-day moving average price of $97.98 and a two-hundred day moving average price of $109.16.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS 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 period in the prior year, the company posted $1.72 EPS. Equities research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.