T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) has earned an average recommendation of "Hold" from the twelve brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $132.30.
Several research analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $118.00 to $100.00 and set a "sell" rating on the stock in a research report on Wednesday, June 29th. TheStreet cut T. Rowe Price Group from a "b-" rating to a "c" rating in a research report on Wednesday, July 13th. UBS Group cut their price objective on T. Rowe Price Group from $88.00 to $84.00 and set a "sell" rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $117.00 to $94.00 and set an "underweight" rating on the stock in a research report on Monday, July 18th. Finally, BMO Capital Markets cut their price objective on T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st.
Get T. Rowe Price Group alerts:T. Rowe Price Group Stock Up 2.7 %
Shares of NASDAQ:TROW opened at $109.63 on Thursday. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 2.20 and a beta of 1.29. T. Rowe Price Group has a 12-month low of $104.72 and a 12-month high of $223.36. The business's 50 day moving average is $120.75 and its 200 day moving average is $125.85.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.45). The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The firm's quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 EPS. As a group, equities research analysts expect that T. Rowe Price Group will post 8.24 earnings per share for the current year.T. Rowe Price Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group's dividend payout ratio is presently 46.33%.
Insider Activity
In related news, insider Jessica M. Hiebler sold 959 shares of the business's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the sale, the insider now directly owns 12,183 shares in the company, valued at approximately $1,517,636.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jessica M. Hiebler sold 959 shares of the business's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the sale, the insider now directly owns 12,183 shares in the company, valued at approximately $1,517,636.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the sale, the vice president now owns 136,410 shares in the company, valued at $17,311,793.10. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
Institutional Trading of T. Rowe Price Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its stake in T. Rowe Price Group by 24.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 365 shares of the asset manager's stock worth $55,000 after acquiring an additional 71 shares during the last quarter. Claro Advisors LLC increased its stake in T. Rowe Price Group by 7.2% in the 4th quarter. Claro Advisors LLC now owns 1,104 shares of the asset manager's stock worth $217,000 after acquiring an additional 74 shares during the last quarter. SkyOak Wealth LLC increased its stake in T. Rowe Price Group by 6.0% in the 1st quarter. SkyOak Wealth LLC now owns 1,360 shares of the asset manager's stock worth $206,000 after acquiring an additional 77 shares during the last quarter. Lindbrook Capital LLC increased its stake in T. Rowe Price Group by 7.6% in the 1st quarter. Lindbrook Capital LLC now owns 1,095 shares of the asset manager's stock worth $166,000 after acquiring an additional 77 shares during the last quarter. Finally, Triangle Securities Wealth Management increased its stake in T. Rowe Price Group by 4.3% in the 1st quarter. Triangle Securities Wealth Management now owns 1,879 shares of the asset manager's stock worth $284,000 after acquiring an additional 78 shares during the last quarter. 74.94% of the stock is currently owned by institutional investors.
About T. Rowe Price Group
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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.
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