T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Has Consensus Target Price of $102.83 According to Analysts

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been assigned an average recommendation of “Reduce” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $102.83.

Several research analysts have issued reports on TROW shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Morgan Stanley boosted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Evercore set a $109.00 price target on T. Rowe Price Group in a research note on Friday, October 9th. UBS Group began coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price objective for the company. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating on the stock in a research report on Friday, October 30th.

T. Rowe Price Group Stock Up 2.2%

NASDAQ:TROW opened at $110.82 on Friday. The business’s 50-day moving average price is $105.25 and its 200 day moving average price is $103.80. T. Rowe Price Group has a 52-week low of $85.22 and a 52-week high of $122.00. The firm has a market cap of $23.64 billion, a P/E ratio of 11.21, a PEG ratio of 4.31 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.23. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 EPS. Sell-side analysts expect that T. Rowe Price Group will post 10.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, December 16th. T. Rowe Price Group’s payout ratio is presently 52.58%.

Insider Transactions at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $2,728,119,000. Legal & General Group Plc purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $183,130,000. Bank of America Corp DE acquired a new stake in T. Rowe Price Group during the second quarter valued at $170,572,000. Bank of New York Mellon Corp acquired a new stake in T. Rowe Price Group during the second quarter valued at $167,984,000. Finally, Caisse de depot et placement du Quebec purchased a new position in T. Rowe Price Group in the second quarter valued at about $132,649,000. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland.

The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.

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