Wells Fargo & Company Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $116.00 to $98.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.43% from the company's current price.

Other research analysts also recently issued research reports about the stock. Barclays dropped their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Citigroup decreased their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating for the company in a report on Thursday, April 3rd. Finally, StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Five 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, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $102.00.

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T. Rowe Price Group Stock Up 3.3 %

Shares of NASDAQ:TROW traded up $2.80 during trading on Tuesday, reaching $88.74. The stock had a trading volume of 2,952,480 shares, compared to its average volume of 1,437,461. The stock has a market cap of $19.72 billion, a P/E ratio of 9.69, a PEG ratio of 2.86 and a beta of 1.50. The business has a fifty day moving average price of $97.98 and a 200-day moving average price of $109.16. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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 return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the business posted $1.72 EPS. As a group, equities analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on 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 owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. Glenview Trust co grew its stake in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after buying an additional 92 shares during the last quarter. MCF Advisors LLC grew its position in shares of T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC increased 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 acquiring an additional 93 shares during the period. Brooklyn Investment Group lifted its position in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock valued at $56,000 after purchasing an additional 98 shares during the last quarter. Finally, Advantage Trust Co boosted its stake in T. Rowe Price Group by 48.8% during the 4th 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 period. 73.39% of the stock is currently 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.