T. Rowe Price Group (NASDAQ:TROW) Stock Rating Lowered by StockNews.com

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

A number of other analysts also recently issued reports on TROW. Keefe, Bruyette & Woods dropped their price target on T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating for the company in a research report on Monday. Wells Fargo & Company dropped their target price on shares of 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. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Evercore ISI raised their price objective on shares of 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. Finally, TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $115.82.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.96 during midday trading on Friday, reaching $113.09. 695,867 shares of the stock were exchanged, compared to its average volume of 1,298,606. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81. The firm has a market cap of $25.12 billion, a PE ratio of 12.38, a PEG ratio of 1.42 and a beta of 1.43. The company's fifty day moving average is $117.96 and its 200-day moving average is $112.86.

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

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction dated 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 of the company's stock, 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 through this link. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock valued at $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock worth $185,810,000 after purchasing an additional 220,105 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. 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.