T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target lowered by Barclays from $113.00 to $105.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the asset manager's stock.
Several other brokerages have also commented on TROW. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $115.09.
Read Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Stock Down 0.5 %
NASDAQ TROW traded down $0.52 during trading hours on Thursday, hitting $109.62. The company had a trading volume of 1,240,337 shares, compared to its average volume of 1,576,746. The business has a fifty day simple moving average of $115.78 and a 200-day simple moving average of $112.54. The firm has a market cap of $24.35 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results 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 20.91%. During the same period last year, the business posted $1.72 earnings per share. Equities analysts forecast that T. Rowe Price Group will post 9.36 EPS for the current fiscal year.
Insider Transactions at T. Rowe Price Group
In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.
Hedge Funds Weigh In On T. Rowe Price Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock worth $598,801,000 after buying an additional 25,481 shares in the last quarter. Provident Trust Co. grew its stake in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after buying an additional 213,566 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in T. Rowe Price Group by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock worth $211,529,000 after acquiring an additional 8,992 shares in the last quarter. Finally, Amundi lifted its position in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Company Profile
(
Get Free Report)
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.
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