T. Rowe Price Group (NASDAQ:TROW) Given New $95.00 Price Target at Citigroup

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by equities researchers at Citigroup from $100.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Citigroup’s target price would indicate a potential upside of 6.23% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.09.

T. Rowe Price Group Trading Up 0.8 %

Shares of TROW stock traded up $0.69 during mid-day trading on Monday, reaching $89.43. The stock had a trading volume of 1,756,077 shares, compared to its average volume of 1,441,441. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The business’s fifty day moving average is $97.98 and its 200-day moving average is $109.16. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares in the last quarter. Fayez Sarofim & Co increased its position in shares of T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares during the period. Geode Capital Management LLC raised its position in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares in 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.