Brokerages Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $112.67

T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned a consensus recommendation of “Reduce” from the nine analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $112.67.

A number of brokerages have weighed in on TROW. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th.

Insider Activity

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently modified their holdings of TROW. Confluence Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $130,386,000. International Assets Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after buying an additional 892,198 shares in the last quarter. UBS Group AG raised its stake in shares of T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares during the last quarter. Norges Bank acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $80,831,000. Finally, Hsbc Holdings PLC grew its position in T. Rowe Price Group by 66.8% during the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after acquiring an additional 306,524 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $114.02 on Friday. The firm has a market cap of $25.50 billion, a PE ratio of 13.54, a PEG ratio of 2.14 and a beta of 1.40. The firm’s 50 day moving average price is $115.10 and its 200 day moving average price is $107.10. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group will post 8.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.35%. T. Rowe Price Group’s payout ratio is presently 58.91%.

About T. Rowe Price Group

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.