Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $114.09

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average rating of “Reduce” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $114.09.

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth $27,000. Y.D. More Investments Ltd boosted its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth $32,000. Finally, Advantage Trust Co boosted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $92.83 on Monday. The stock’s 50-day moving average is $106.39 and its 200 day moving average is $111.23. T. Rowe Price Group has a one year low of $91.37 and a one year high of $125.81. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the company earned $1.72 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.47%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

T. Rowe Price Group Company Profile

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.