T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $113.00 by Analysts at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its price objective dropped by stock analysts at Barclays from $115.00 to $113.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price suggests a potential downside of 0.45% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Morgan Stanley upped their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen reduced 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $1.38 on Friday, hitting $113.51. The stock had a trading volume of 507,861 shares, compared to its average volume of 1,282,161. The stock’s 50 day moving average is $117.96 and its 200-day moving average is $112.86. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.42 and a beta of 1.43. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm earned $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group will post 9.46 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

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

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of TROW. Insight Folios Inc boosted its holdings in T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares in the last quarter. Keystone Financial Services lifted its position in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares in the last quarter. Nvwm LLC grew its holdings in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after acquiring an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC raised its position in shares of T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the period. 73.39% of the stock is currently owned by institutional investors.

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.