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 objective decreased by stock analysts at Wells Fargo & Company from $118.00 to $116.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 3.12% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on TROW. Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target on 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. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, TD Cowen decreased their target price 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $114.91.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $1.79 during trading on Thursday, reaching $112.49. 299,633 shares of the company traded hands, compared to its average volume of 1,552,932. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.78 and a beta of 1.44. The stock’s 50 day moving average price is $116.31 and its two-hundred day moving average price is $112.63.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 period last year, the business posted $1.72 earnings per share. Equities research analysts expect that T. Rowe Price Group will post 9.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the business. Nilsine Partners LLC increased its stake in T. Rowe Price Group by 75.5% in 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 last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 acquiring an additional 7,503 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Aigen Investment Management LP bought a new stake in T. Rowe Price Group during the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 3.5% during 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 during the last quarter. 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.