T. Rowe Price Group (NASDAQ:TROW) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW)‘s stock had its “market perform” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a report issued on Thursday,Benzinga reports. They presently have a $113.00 price target on the asset manager’s stock, up from their previous price target of $111.00. Keefe, Bruyette & Woods’ price target indicates a potential downside of 0.22% from the stock’s previous close.

Several other brokerages have also commented on TROW. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Morgan Stanley increased their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $2.54 during trading on Thursday, reaching $113.24. The company’s stock had a trading volume of 493,445 shares, compared to its average volume of 1,557,934. The stock’s 50-day moving average price is $116.31 and its 200 day moving average price is $112.63. The company has a market capitalization of $25.16 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.78 and a beta of 1.44. 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 announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same period last year, the company earned $1.72 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction 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 transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Provident Trust Co. grew its holdings in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in T. Rowe Price Group by 70.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock worth $55,421,000 after acquiring an additional 201,802 shares during the last quarter. 73.39% of the stock is currently 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.