T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $118.00 at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by investment analysts at Wells Fargo & Company from $124.00 to $118.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.66% from the company’s current price.

Several other brokerages have also issued reports on TROW. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Evercore ISI upped 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. TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday. Finally, Barclays boosted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.00.

T. Rowe Price Group Trading Up 1.9 %

Shares of T. Rowe Price Group stock opened at $110.63 on Tuesday. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The firm has a market capitalization of $24.58 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The business’s fifty day simple moving average is $118.17 and its 200 day simple moving average is $112.88.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm earned $2.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Analysts predict that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Wynn Capital LLC boosted its stake in T. Rowe Price Group by 2.3% in the 4th quarter. Wynn Capital LLC now owns 5,402 shares of the asset manager’s stock worth $611,000 after purchasing an additional 120 shares in the last quarter. Fiduciary Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $269,000. West Oak Capital LLC lifted its holdings in T. Rowe Price Group by 5.0% in the fourth quarter. West Oak Capital LLC now owns 7,545 shares of the asset manager’s stock valued at $853,000 after acquiring an additional 360 shares during the period. Global Financial Private Client LLC lifted its position in T. Rowe Price Group by 1.3% during the fourth quarter. Global Financial Private Client LLC now owns 10,833 shares of the asset manager’s stock valued at $1,225,000 after purchasing an additional 142 shares in the last quarter. Finally, Cullen Investment Group LTD. lifted its holdings in T. Rowe Price Group by 0.8% during the fourth quarter. Cullen Investment Group LTD. now owns 13,437 shares of the asset manager’s stock valued at $1,520,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

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.