Morgan Stanley Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $123.00

T. Rowe Price Group (NASDAQ:TROW) had its target price decreased by stock analysts at Morgan Stanley from $128.00 to $123.00 in a report released on Monday, Marketbeat reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 16.23% from the stock’s previous close.

A number of other research analysts have also weighed in on TROW. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. BMO Capital Markets increased their price objective on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 13th. Bank of America increased their price target on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Barclays lowered their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a research report on Tuesday, January 20th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $106.92.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $0.83 on Monday, reaching $105.82. 234,673 shares of the company were exchanged, compared to its average volume of 1,676,923. The company has a 50-day moving average of $104.80 and a 200-day moving average of $104.69. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.56 and a beta of 1.52. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business earned $2.57 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Large investors have recently bought and sold shares of the stock. Swedbank AB boosted its holdings in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Swedbank AB now owns 42,592 shares of the asset manager’s stock valued at $4,361,000 after buying an additional 213 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after purchasing an additional 18,952 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of T. Rowe Price Group by 2.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,187 shares of the asset manager’s stock worth $2,783,000 after buying an additional 542 shares during the last quarter. QRG Capital Management Inc. grew its position in T. Rowe Price Group by 153.0% during the fourth quarter. QRG Capital Management Inc. now owns 42,476 shares of the asset manager’s stock valued at $4,349,000 after buying an additional 25,685 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in T. Rowe Price Group by 4.9% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,656 shares of the asset manager’s stock valued at $477,000 after buying an additional 216 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.