T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Rating of “Hold” by Brokerages

T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $162.00.

Several brokerages have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $142.00 to $126.00 in a report on Thursday, May 19th. BMO Capital Markets cut T. Rowe Price Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $160.00 to $135.00 in a report on Monday, June 13th. StockNews.com began coverage on T. Rowe Price Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley reduced their price objective on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Finally, Citigroup reduced their price objective on T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th.

In related news, insider Jessica M. Hiebler sold 730 shares of T. Rowe Price Group stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the completion of the sale, the insider now directly owns 13,089 shares in the company, valued at $1,636,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. MML Investors Services LLC raised its holdings in T. Rowe Price Group by 2.2% in the fourth quarter. MML Investors Services LLC now owns 15,092 shares of the asset manager’s stock worth $2,968,000 after purchasing an additional 328 shares in the last quarter. Concord Wealth Partners grew its stake in shares of T. Rowe Price Group by 3,180.0% during the fourth quarter. Concord Wealth Partners now owns 328 shares of the asset manager’s stock worth $64,000 after acquiring an additional 318 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of T. Rowe Price Group by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 2,251 shares of the asset manager’s stock worth $442,000 after acquiring an additional 187 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of T. Rowe Price Group by 7.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock worth $460,000 after acquiring an additional 167 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group by 44.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,159,851 shares of the asset manager’s stock worth $424,714,000 after acquiring an additional 668,099 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

Shares of T. Rowe Price Group stock opened at $106.68 on Tuesday. The stock’s 50-day simple moving average is $125.67 and its 200-day simple moving average is $149.89. T. Rowe Price Group has a 52 week low of $104.72 and a 52 week high of $224.55. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.72 and a beta of 1.34.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The asset manager reported $2.62 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.14). T. Rowe Price Group had a net margin of 37.64% and a return on equity of 33.38%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm earned $3.01 earnings per share. T. Rowe Price Group’s revenue was up 2.0% on a year-over-year basis. Analysts forecast that T. Rowe Price Group will post 10.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Wednesday, June 15th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $4.80 annualized dividend and a dividend yield of 4.50%. T. Rowe Price Group’s payout ratio is currently 38.83%.

T. Rowe Price Group Company Profile (Get Rating)

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.

See Also

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

Want More Great Investing Ideas?

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.