T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $89.00 at TD Cowen

T. Rowe Price Group (NASDAQ:TROW) had its target price reduced by TD Cowen from $112.00 to $89.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price points to a potential upside of 1.68% from the stock’s previous close.

Several other brokerages have also recently weighed in on TROW. Morgan Stanley dropped their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research report on Thursday, April 3rd. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Bank of America lowered their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company cut their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $104.75.

T. Rowe Price Group Trading Up 9.0 %

TROW stock traded up $7.26 during mid-day trading on Wednesday, hitting $87.53. 1,384,485 shares of the company were exchanged, compared to its average volume of 1,412,686. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market capitalization of $19.45 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business has a 50 day simple moving average of $100.15 and a 200-day simple moving average of $109.71.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the company posted $1.72 EPS. Equities research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the business. Glenview Trust co increased its stake in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC increased its stake in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group boosted its position in shares of T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after purchasing an additional 98 shares in the last quarter. Finally, Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the period. 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.