T. Rowe Price Group (NASDAQ:TROW) Stock Rating Lowered by StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other research analysts have also issued reports about the stock. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Barclays dropped their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Evercore ISI lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $115.27 on Friday. The company has a fifty day moving average price of $116.90 and a two-hundred day moving average price of $112.65. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81. The stock has a market cap of $25.61 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.78 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group will post 9.42 EPS for the current fiscal year.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now 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 filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of TROW. Nilsine Partners LLC raised its holdings in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Janus Henderson Group PLC grew its holdings in T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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.