Short Interest in T. Rowe Price Group, Inc. (NASDAQ:TROW) Decreases By 14.2%

T. Rowe Price Group, Inc. (NASDAQ:TROW) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 10,260,000 shares, a decline of 14.2% from the December 15th total of 11,960,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 7.7 days. Approximately 4.7% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on TROW. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Barclays lifted their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.00.

T. Rowe Price Group Stock Down 1.1 %

T. Rowe Price Group stock opened at $112.13 on Friday. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81. The business has a 50-day simple moving average of $117.96 and a 200 day simple moving average of $112.86. The stock has a market cap of $24.91 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that T. Rowe Price Group will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC lifted its stake in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $43,000. Institutional investors own 73.39% 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.