T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $105.00 by Analysts at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its target price decreased by research analysts at Barclays from $113.00 to $105.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target would suggest a potential downside of 5.15% from the company’s current price.

Several other brokerages have also weighed in on TROW. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Price Performance

TROW opened at $110.70 on Thursday. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market capitalization of $24.59 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.78 and a beta of 1.44. The business has a 50 day simple moving average of $116.31 and a 200-day simple moving average of $112.63.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. During the same period last year, the company posted $1.72 earnings per share. Research analysts anticipate that T. Rowe Price Group will post 9.42 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $1,567,000. Czech National Bank grew its position in T. Rowe Price Group by 6.6% during the third quarter. Czech National Bank now owns 45,345 shares of the asset manager’s stock valued at $4,939,000 after acquiring an additional 2,793 shares during the period. Brookstone Capital Management increased its stake in T. Rowe Price Group by 3.9% during the third quarter. Brookstone Capital Management now owns 86,089 shares of the asset manager’s stock worth $9,378,000 after acquiring an additional 3,208 shares during the last quarter. Hoxton Planning & Management LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter worth about $243,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.