T. Rowe Price Group Inc (NASDAQ:TROW) Given Consensus Rating of “Hold” by Brokerages

Shares of T. Rowe Price Group Inc (NASDAQ:TROW) have been assigned an average recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $117.17.

TROW has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Monday, October 7th. They issued a “market perform” rating and a $101.00 price target on the stock. Wells Fargo & Co upgraded shares of T. Rowe Price Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $114.00 to $145.00 in a research report on Thursday, January 2nd. BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Deutsche Bank boosted their price target on shares of T. Rowe Price Group from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, ValuEngine cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Monday, September 16th.

Shares of T. Rowe Price Group stock opened at $126.02 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $122.94 and its two-hundred day moving average price is $114.77. T. Rowe Price Group has a 52 week low of $86.61 and a 52 week high of $126.67. The stock has a market cap of $29.33 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $2.13 EPS for the quarter, topping the consensus estimate of $1.98 by $0.15. T. Rowe Price Group had a net margin of 35.28% and a return on equity of 28.84%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $1.99 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group will post 7.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.76 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.04 dividend on an annualized basis and a yield of 2.41%. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.

In related news, VP Christopher D. Alderson sold 3,502 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $122.54, for a total value of $429,135.08. Following the transaction, the vice president now owns 400,505 shares of the company’s stock, valued at approximately $49,077,882.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP W. Sharps Robert sold 12,400 shares of T. Rowe Price Group stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $123.70, for a total value of $1,533,880.00. Following the completion of the transaction, the vice president now directly owns 446,726 shares in the company, valued at approximately $55,260,006.20. The disclosure for this sale can be found here. Insiders sold a total of 16,702 shares of company stock worth $2,061,719 in the last three months. 3.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 1,043.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,209,275 shares of the asset manager’s stock valued at $132,671,000 after buying an additional 1,103,487 shares during the last quarter. BlackRock Inc. lifted its holdings in T. Rowe Price Group by 3.6% during the 2nd quarter. BlackRock Inc. now owns 17,802,701 shares of the asset manager’s stock worth $1,953,135,000 after purchasing an additional 626,119 shares during the last quarter. First Trust Advisors LP lifted its holdings in T. Rowe Price Group by 112.4% during the 3rd quarter. First Trust Advisors LP now owns 1,134,618 shares of the asset manager’s stock worth $129,630,000 after purchasing an additional 600,368 shares during the last quarter. Strs Ohio lifted its holdings in T. Rowe Price Group by 8,468.0% during the 3rd quarter. Strs Ohio now owns 265,094 shares of the asset manager’s stock worth $30,286,000 after purchasing an additional 262,000 shares during the last quarter. Finally, PGGM Investments lifted its holdings in T. Rowe Price Group by 80.3% during the 3rd quarter. PGGM Investments now owns 544,229 shares of the asset manager’s stock worth $62,178,000 after purchasing an additional 242,429 shares during the last quarter. 70.36% of the stock is currently owned by hedge funds and other 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.

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

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