Citigroup Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective reduced by Citigroup from $100.00 to $95.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Citigroup’s price target suggests a potential upside of 6.23% from the company’s current price.

Several other equities research analysts also recently commented on TROW. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. TD Cowen cut their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday. Morgan Stanley decreased their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, Bank of America dropped their price target on 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $100.09.

T. Rowe Price Group Trading Up 0.8 %

Shares of TROW traded up $0.69 during trading hours on Monday, reaching $89.43. 1,756,077 shares of the stock traded hands, compared to its average volume of 1,441,441. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a fifty day simple moving average of $97.98 and a 200 day simple moving average of $109.16. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly 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 quarter in the previous year, the company earned $1.72 earnings per share. Analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Nilsine Partners LLC raised its stake in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the last quarter. Amundi grew its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Commonwealth Equity Services LLC raised its position in T. Rowe Price Group by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after acquiring an additional 20,062 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after acquiring an additional 73,307 shares during the period. 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.