T. Rowe Price Group Inc. (TROW) Price Target Cut to $75.00 by Analysts at Keefe, Bruyette & Woods

T. Rowe Price Group Inc. (NASDAQ:TROW) had its price objective reduced by analysts at Keefe, Bruyette & Woods from $81.00 to $75.00 in a report issued on Wednesday. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.11% from the company’s previous close.

Shares of T. Rowe Price Group (NASDAQ:TROW) traded up 0.18% during midday trading on Wednesday, reaching $70.68. The company had a trading volume of 2,836,662 shares. T. Rowe Price Group has a 52 week low of $63.57 and a 52 week high of $79.00. The firm has a market capitalization of $17.54 billion and a price-to-earnings ratio of 15.20. The stock has a 50-day moving average of $72.61 and a 200 day moving average of $72.30.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The company earned $1,000 million during the quarter, compared to the consensus estimate of $1.03 billion. T. Rowe Price Group’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. On average, analysts anticipate that T. Rowe Price Group will post $4.24 earnings per share for the current year.

Other equities analysts have also recently issued reports about the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Citigroup Inc. decreased their target price on T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a report on Wednesday. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Monday, April 11th. Finally, Morgan Stanley reissued a “hold” rating on shares of T. Rowe Price Group in a report on Wednesday, April 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $76.33.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its position in T. Rowe Price Group by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 30,062 shares of the company’s stock valued at $2,149,000 after buying an additional 561 shares in the last quarter. Aberdeen Asset Management PLC UK raised its position in T. Rowe Price Group by 16.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 60,619 shares of the company’s stock valued at $4,501,000 after buying an additional 8,705 shares in the last quarter. Andra AP fonden raised its position in T. Rowe Price Group by 8.4% in the fourth quarter. Andra AP fonden now owns 38,700 shares of the company’s stock valued at $2,767,000 after buying an additional 3,000 shares in the last quarter. Gulf International Bank UK Ltd raised its position in T. Rowe Price Group by 2.7% in the fourth quarter. Gulf International Bank UK Ltd now owns 75,520 shares of the company’s stock valued at $5,399,000 after buying an additional 1,980 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in T. Rowe Price Group by 18.8% in the first quarter. Fisher Asset Management LLC now owns 219,741 shares of the company’s stock valued at $16,817,000 after buying an additional 34,704 shares in the last quarter.

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.