T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $116.00 by Analysts at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by Wells Fargo & Company from $118.00 to $116.00 in a research report report published on Thursday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the stock. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of 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. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Barclays decreased their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Four 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.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Trading Up 0.7 %

Shares of NASDAQ TROW opened at $111.44 on Thursday. The company’s 50-day moving average price is $116.31 and its 200 day moving average price is $112.63. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market cap of $24.76 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate 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 quarter last year, the business earned $1.72 earnings per share. As a group, research analysts expect that T. Rowe Price Group will post 9.42 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently modified their holdings of TROW. Insight Folios Inc lifted its position in T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after acquiring an additional 90 shares in the last quarter. Keystone Financial Services lifted its position in shares of T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares during the period. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Finally, Nvwm LLC lifted its holdings in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors 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.