Barclays Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $113.00

T. Rowe Price Group (NASDAQ:TROW) had its price target dropped by equities research analysts at Barclays from $115.00 to $113.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective indicates a potential downside of 0.19% from the stock’s previous close.

TROW has been the topic of several other reports. Morgan Stanley increased their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Wells Fargo & Company cut their price objective on 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. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $113.21 on Friday. The business’s 50-day moving average is $117.71 and its 200 day moving average is $112.85. The stock has a market capitalization of $25.15 billion, a PE ratio of 12.39, a PEG 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 released its quarterly earnings data 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 net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate 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 company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Insight Folios Inc raised its position in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares in the last quarter. Keystone Financial Services grew its stake 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 worth $205,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after buying an additional 93 shares during the last quarter. Nvwm LLC boosted its stake in shares of T. Rowe Price Group by 2.2% during 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 period. Finally, Strategy Asset Managers LLC boosted its holdings 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 acquiring an additional 95 shares during the period. 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.