T. Rowe Price Group (NASDAQ:TROW) Downgraded to Sell at ValuEngine

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ValuEngine cut shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a sell rating in a research report sent to investors on Monday, ValuEngine reports.

TROW has been the subject of several other reports. Citigroup increased their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a neutral rating in a report on Tuesday, July 9th. Deutsche Bank reduced their target price on shares of T. Rowe Price Group from $115.00 to $112.00 and set a hold rating for the company in a report on Friday, August 9th. UBS Group increased their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a neutral rating in a report on Monday, July 8th. BidaskClub raised shares of T. Rowe Price Group from a hold rating to a buy rating in a report on Tuesday, September 10th. Finally, Morgan Stanley increased their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an equal weight rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $110.92.

T. Rowe Price Group stock opened at $116.00 on Monday. The firm has a 50 day moving average of $110.94 and a 200 day moving average of $106.73. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.76 and a beta of 1.05. T. Rowe Price Group has a 12-month low of $84.59 and a 12-month high of $120.99. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.15. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 EPS. On average, analysts predict that T. Rowe Price Group will post 7.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.76 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.04 annualized dividend and a yield of 2.62%. T. Rowe Price Group’s payout ratio is 42.52%.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the transaction, the vice president now directly owns 467,715 shares in the company, valued at approximately $55,424,227.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D. Alderson sold 36,898 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total value of $4,221,500.18. Following the completion of the transaction, the vice president now owns 414,144 shares of the company’s stock, valued at $47,382,215.04. The disclosure for this sale can be found here. Insiders sold a total of 79,773 shares of company stock valued at $9,187,023 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Sawtooth Solutions LLC raised its holdings in T. Rowe Price Group by 4.6% during the 2nd quarter. Sawtooth Solutions LLC now owns 2,220 shares of the asset manager’s stock valued at $244,000 after buying an additional 97 shares during the period. Unison Advisors LLC increased its position in shares of T. Rowe Price Group by 0.7% during the second quarter. Unison Advisors LLC now owns 13,584 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 100 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of T. Rowe Price Group by 66.7% during the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Duncker Streett & Co. Inc. increased its position in shares of T. Rowe Price Group by 3.1% during the second quarter. Duncker Streett & Co. Inc. now owns 3,279 shares of the asset manager’s stock worth $360,000 after purchasing an additional 100 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV increased its position in shares of T. Rowe Price Group by 1.4% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock worth $736,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.

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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