T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Rated “Reduce” by Wall Street Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $106.15.

TROW has been the topic of several research analyst reports. UBS Group set a $110.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 31st. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Evercore set a $118.00 price target on T. Rowe Price Group in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th.

T. Rowe Price Group Price Performance

Shares of TROW opened at $104.27 on Friday. T. Rowe Price Group has a one year low of $85.22 and a one year high of $122.00. The company has a 50-day moving average of $111.37 and a two-hundred day moving average of $105.10. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 3.45 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.24 earnings per share. Analysts anticipate that T. Rowe Price Group will post 10.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TROW. Twin Tree Management LP bought a new stake in shares of T. Rowe Price Group in the second quarter valued at about $2,989,000. Envestnet Portfolio Solutions Inc. raised its holdings in T. Rowe Price Group by 6.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock valued at $19,787,000 after acquiring an additional 10,077 shares in the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $128,283,000. BlackRock Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $2,728,119,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $1,001,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.