T. Rowe Price Group Inc (NASDAQ:TROW) Receives Average Rating of “Hold” from Brokerages

Shares of T. Rowe Price Group Inc (NASDAQ:TROW) have earned an average recommendation of “Hold” from the fifteen research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $107.83.

TROW has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Bank of America set a $180.00 price target on CME Group and gave the company a “hold” rating in a report on Tuesday, April 9th. Citigroup lowered Apergy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays increased their price target on T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a report on Thursday, April 25th.

In other T. Rowe Price Group news, Director Mary K. Bush sold 3,500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $107.06, for a total value of $374,710.00. Following the transaction, the director now owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott B. David sold 45,118 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $107.88, for a total value of $4,867,329.84. Following the completion of the transaction, the vice president now directly owns 48,454 shares in the company, valued at approximately $5,227,217.52. The disclosure for this sale can be found here. Insiders have sold a total of 68,618 shares of company stock worth $7,400,440 in the last 90 days. 3.10% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in TROW. Norges Bank bought a new position in T. Rowe Price Group in the 4th quarter valued at $216,223,000. APG Asset Management N.V. grew its position in T. Rowe Price Group by 112.3% in the 4th quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock valued at $85,943,000 after acquiring an additional 562,900 shares during the last quarter. Pennsylvania Trust Co grew its position in T. Rowe Price Group by 740.5% in the 1st quarter. Pennsylvania Trust Co now owns 483,407 shares of the asset manager’s stock valued at $49,629,000 after acquiring an additional 425,896 shares during the last quarter. Millennium Management LLC grew its position in T. Rowe Price Group by 5,146.5% in the 4th quarter. Millennium Management LLC now owns 375,495 shares of the asset manager’s stock valued at $34,666,000 after acquiring an additional 368,338 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of T. Rowe Price Group by 243.4% during the 4th quarter. Nuveen Asset Management LLC now owns 300,607 shares of the asset manager’s stock worth $27,752,000 after buying an additional 213,071 shares in the last quarter. 69.33% of the stock is currently owned by institutional investors.

Shares of TROW traded down $0.77 during mid-day trading on Friday, hitting $109.59. 20,149 shares of the stock were exchanged, compared to its average volume of 1,049,350. The stock has a market cap of $26.11 billion, a P/E ratio of 15.33, a PEG ratio of 1.53 and a beta of 1.07. T. Rowe Price Group has a 52-week low of $84.59 and a 52-week high of $125.35. The stock has a 50-day simple moving average of $106.93. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.03.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.26. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 EPS. On average, analysts predict that T. Rowe Price Group will post 7.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.76 per share. The ex-dividend date was Thursday, June 13th. This represents a $3.04 annualized dividend and a yield of 2.77%. T. Rowe Price Group’s payout ratio is presently 42.52%.

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.

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

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