T. Rowe Price Group (NASDAQ:TROW) Downgraded to “Hold” Rating by StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts have also weighed in on TROW. TD Cowen dropped 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. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays lifted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Price Performance

TROW opened at $112.84 on Thursday. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company’s 50 day moving average price is $118.22 and its two-hundred day moving average price is $113.05. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 earnings per share. As a group, equities research analysts predict that T. Rowe Price Group will post 9.39 EPS for the current year.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Forsta AP Fonden raised its holdings in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after buying an additional 17,100 shares during the period. Janus Henderson Group PLC raised its holdings in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after buying an additional 1,100 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in T. Rowe Price Group in the second quarter worth $15,907,000. Finally, Aigen Investment Management LP purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at $516,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.