T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $107.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective dropped by Evercore ISI from $110.00 to $107.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target would indicate a potential downside of 3.50% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley increased their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Trading Down 1.1 %

Shares of TROW traded down $1.20 during midday trading on Tuesday, hitting $110.88. The stock had a trading volume of 149,021 shares, compared to its average volume of 1,433,742. The business has a 50-day simple moving average of $115.16 and a two-hundred day simple moving average of $107.17. The firm has a market cap of $24.80 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.80%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. On average, analysts expect that T. Rowe Price Group will post 8.36 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 over the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after buying an additional 86 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after purchasing an additional 88 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after buying an additional 100 shares in the last quarter. Finally, Caprock Group LLC grew its stake in T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after buying an additional 101 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.