Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) PT at $112.82

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 stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $113.00.

Several research firms have commented on TROW. Barclays boosted their target price on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th.

T. Rowe Price Group Stock Up 2.3 %

Shares of TROW stock opened at $112.01 on Friday. The business’s fifty day moving average is $107.95 and its 200 day moving average is $111.90. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $122.27. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.86 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm posted $2.02 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group will post 9.09 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hunter Associates Investment Management LLC increased its position in T. Rowe Price Group by 3.0% in the third quarter. Hunter Associates Investment Management LLC now owns 106,471 shares of the asset manager’s stock worth $11,605,000 after buying an additional 3,090 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in T. Rowe Price Group by 4.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,834 shares of the asset manager’s stock worth $309,000 after buying an additional 121 shares in the last quarter. Smithbridge Asset Management Inc. DE increased its position in T. Rowe Price Group by 5.4% in the third quarter. Smithbridge Asset Management Inc. DE now owns 36,774 shares of the asset manager’s stock worth $4,006,000 after buying an additional 1,879 shares in the last quarter. Insight Folios Inc increased its position in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares in the last quarter. Finally, L. Roy Papp & Associates LLP increased its position in T. Rowe Price Group by 0.5% in the third quarter. L. Roy Papp & Associates LLP now owns 172,403 shares of the asset manager’s stock worth $18,780,000 after buying an additional 934 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.