T. Rowe Price Group (NASDAQ:TROW) Lowered to Strong Sell Rating by Zacks Research

T. Rowe Price Group (NASDAQ:TROW) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

TROW has been the topic of a number of other research reports. BMO Capital Markets reduced their price objective on T. Rowe Price Group from $104.00 to $98.00 and set a “market perform” rating on the stock in a research report on Friday, April 10th. Evercore reduced their price objective on T. Rowe Price Group from $99.00 to $96.00 in a research report on Friday, April 10th. The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $80.00 to $85.00 and gave the stock a “sell” rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on T. Rowe Price Group from $110.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 8th. Ten research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $97.38.

T. Rowe Price Group Stock Up 0.3%

Shares of TROW stock opened at $96.11 on Tuesday. The firm has a market capitalization of $20.91 billion, a P/E ratio of 10.39, a P/E/G ratio of 4.15 and a beta of 1.50. T. Rowe Price Group has a twelve month low of $82.86 and a twelve month high of $118.22. The stock’s fifty day simple moving average is $91.72 and its 200 day simple moving average is $99.58.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 EPS. As a group, equities research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Essex Bank lifted its stake in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC increased its holdings in shares of T. Rowe Price Group by 4.8% in the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after buying an additional 102 shares during the period. MTM Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after buying an additional 107 shares during the period. GenTrust LLC increased its holdings in shares of T. Rowe Price Group by 5.5% in the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after buying an additional 110 shares during the period. Finally, Fiduciary Trust Co increased its holdings in shares of T. Rowe Price Group by 4.5% in the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after buying an additional 111 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 global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.