T. Rowe Price Group (NASDAQ:TROW) Stock Price Target Cut by Barclays

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by equities researchers at Barclays from $103.00 to $102.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective would suggest a potential upside of 1.52% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. TD Cowen reduced their price target on shares of T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Morgan Stanley decreased their target price on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, September 25th. Finally, The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $104.08.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW opened at $100.47 on Wednesday. T. Rowe Price Group has a 52-week low of $85.22 and a 52-week high of $122.00. The stock has a fifty day simple moving average of $108.09 and a two-hundred day simple moving average of $106.55. The company has a market capitalization of $21.43 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 4.50 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. T. Rowe Price Group’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.24 EPS. As a group, equities analysts anticipate that T. Rowe Price Group will post 10.13 earnings per share for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently modified their holdings of the business. Elevation Wealth Partners LLC raised its holdings in T. Rowe Price Group by 173.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 273 shares of the asset manager’s stock worth $28,000 after purchasing an additional 173 shares during the last quarter. Bank & Trust Co increased its stake in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in T. Rowe Price Group in the second quarter worth $39,000. Clearstead Trust LLC bought a new stake in T. Rowe Price Group in the 2nd quarter valued at about $41,000. Finally, AdvisorNet Financial Inc raised its position in shares of T. Rowe Price Group by 281.8% during the first quarter. AdvisorNet Financial Inc now owns 462 shares of the asset manager’s stock worth $42,000 after purchasing an additional 341 shares during the period. 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 global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.