Wells Fargo & Company Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by investment analysts at Wells Fargo & Company from $124.00 to $118.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 4.13% from the stock’s previous close.

TROW has been the topic of several other research reports. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $113.32 on Tuesday. 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 capitalization of $25.18 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. The business has a fifty day moving average price of $118.12 and a two-hundred day moving average price of $112.86.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.17 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group will post 9.46 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TROW. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.