T. Rowe Price Group (NASDAQ:TROW) Downgraded to Hold Rating by StockNews.com

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

Several other research analysts also recently issued reports on TROW. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen dropped their target price on 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. Barclays lifted their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $112.84 on Thursday. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock’s fifty day moving average price is $118.28 and its two-hundred day moving average price is $113.04. The company has a market cap of $25.07 billion, a PE ratio of 12.35, a P/E/G ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Trading of T. Rowe Price Group

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares in the last quarter. Forsta AP Fonden grew its holdings in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares in the last quarter. Janus Henderson Group PLC lifted its stake in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in T. Rowe Price Group during the 2nd quarter worth $15,907,000. Finally, Aigen Investment Management LP bought a new stake in T. Rowe Price Group in the 3rd quarter worth about $516,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.