JPMorgan Chase & Co. Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $110.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the asset manager's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 4.52% from the company's previous close.

A number of other research analysts have also weighed in on the company. Evercore ISI decreased their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Stock Up 0.9 %

Shares of TROW stock traded up $0.74 during trading hours on Wednesday, hitting $86.11. 4,903,880 shares of the company's stock were exchanged, compared to its average volume of 1,453,090. The firm has a market cap of $19.14 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a 50 day moving average of $95.65 and a two-hundred day moving average of $108.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm earned $1.72 earnings per share. On average, equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Trading of T. Rowe Price Group

Large investors have recently made changes to their positions in the company. Glenview Trust co raised its position in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after acquiring an additional 92 shares during the period. MCF Advisors LLC increased its stake in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC raised 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 during the period. Brooklyn Investment Group raised its holdings in shares of T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after purchasing an additional 98 shares during the period. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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.