T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $80.00 by Analysts at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target lowered by stock analysts at Evercore ISI from $104.00 to $80.00 in a report released on Friday,Benzinga reports. The firm currently has an "in-line" rating on the asset manager's stock. Evercore ISI's target price would indicate a potential downside of 8.65% from the stock's current price.

Several other research analysts also recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Barclays cut their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and an average price target of $100.09.

Remove Ads

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $1.74 on Friday, hitting $87.58. 1,844,909 shares of the company's stock traded hands, compared to its average volume of 1,443,041. The company has a fifty day moving average of $97.55 and a two-hundred day moving average of $109.02. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $1.72 earnings per share. Equities research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents 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. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd grew its position in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth $32,000. Finally, Advantage Trust Co lifted its stake in shares of 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 acquiring an additional 100 shares during the last quarter. 73.39% 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.