T. Rowe Price Group (NASDAQ:TROW) Downgraded by StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

TROW has been the subject of a number of other research reports. TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating for the company in a research report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.10.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $1.02 during trading hours on Monday, hitting $113.10. The company’s stock had a trading volume of 1,910,543 shares, compared to its average volume of 1,301,408. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $128.14. The stock has a market cap of $25.26 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.63 and a beta of 1.42. The business has a 50-day simple moving average of $116.39 and a 200-day simple moving average of $114.16.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $2.02 EPS. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group will post 8.98 EPS for the current year.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. Massmutual Trust Co. FSB ADV boosted its position in shares of T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the last quarter. ST Germain D J Co. Inc. grew its stake 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 buying an additional 88 shares in the last quarter. MCF Advisors LLC increased 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 buying an additional 92 shares during the last quarter. Paulson Wealth Management Inc. raised its position in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after buying an additional 95 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after acquiring 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.