T. Rowe Price Group (NASDAQ:TROW) Reaches New 12-Month Low – What’s Next?

T. Rowe Price Group, Inc. (NASDAQ:TROW) shares reached a new 52-week low during trading on Monday . The company traded as low as $91.37 and last traded at $93.49, with a volume of 2552180 shares. The stock had previously closed at $92.04.

Wall Street Analyst Weigh In

TROW has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Up 2.4 %

The stock has a fifty day simple moving average of $108.27 and a two-hundred day simple moving average of $111.64. The company has a market cap of $20.99 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently modified their holdings of TROW. Addison Advisors LLC boosted its stake in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd lifted its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.