T. Rowe Price Group (NASDAQ:TROW) Rating Lowered to Hold at StockNews.com

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

TROW has been the topic of a number of other reports. Morgan Stanley lifted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price target 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, January 13th. Finally, TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Trading Up 1.0 %

Shares of T. Rowe Price Group stock opened at $113.21 on Friday. The firm’s 50 day moving average is $117.71 and its 200 day moving average is $112.85. The firm has a market capitalization of $25.15 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81.

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

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on 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 in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently made changes to their positions in TROW. Donoghue Forlines LLC increased its position in T. Rowe Price Group by 9.6% in the 4th quarter. Donoghue Forlines LLC now owns 12,806 shares of the asset manager’s stock valued at $1,448,000 after buying an additional 1,122 shares in the last quarter. Avior Wealth Management LLC grew its stake in T. Rowe Price Group by 487.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,198 shares of the asset manager’s stock valued at $135,000 after acquiring an additional 994 shares during the period. Bill Few Associates Inc. increased its holdings in shares of T. Rowe Price Group by 7.2% during the fourth quarter. Bill Few Associates Inc. now owns 2,470 shares of the asset manager’s stock valued at $279,000 after acquiring an additional 165 shares in the last quarter. Mutual Advisors LLC raised its position in shares of T. Rowe Price Group by 1.9% during the fourth quarter. Mutual Advisors LLC now owns 41,545 shares of the asset manager’s stock worth $4,658,000 after purchasing an additional 779 shares during the period. Finally, Wesbanco Bank Inc. bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $207,000. Institutional investors and hedge funds 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.