Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) PT at $115.09

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average recommendation of “Reduce” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $114.09.

A number of equities analysts have issued reports on TROW shares. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Barclays lowered their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group 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 completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently made changes to their positions in the stock. Hall Capital Management Co. Inc. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $1,107,000. Cypress Asset Management Inc. TX purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $284,000. Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $42,000. Mackenzie Financial Corp raised its position in T. Rowe Price Group by 369.8% in the 4th quarter. Mackenzie Financial Corp now owns 142,384 shares of the asset manager’s stock worth $16,102,000 after purchasing an additional 112,078 shares during the period. Finally, Forum Financial Management LP purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $334,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $106.57 on Thursday. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81. The stock’s fifty day moving average price is $112.54 and its two-hundred day moving average price is $112.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $1.72 EPS. On average, equities analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

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.