T. Rowe Price Group (NASDAQ:TROW) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of T. Rowe Price Group (NASDAQ:TROW) from a buy rating to a hold rating in a research report report published on Friday.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW stock opened at $113.21 on Friday. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43. The stock has a 50-day moving average of $117.80 and a 200-day moving average of $112.86.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Sell-side analysts forecast that T. Rowe Price Group will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.38%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Insight Folios Inc boosted its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares during the last quarter. Keystone Financial Services lifted its stake in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC boosted its holdings in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Nvwm LLC grew its stake in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after acquiring an additional 95 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in shares of T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

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.