T. Rowe Price Group, Inc. (NASDAQ:TROW) Given Consensus Rating of “Reduce” by Analysts

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average recommendation of “Reduce” from the eleven research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $115.82.

A number of research analysts have recently weighed in on TROW shares. Barclays dropped their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday. Keefe, Bruyette & Woods cut their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at $37,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $116.92 on Friday. 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 $25.97 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. The business’s 50 day simple moving average is $116.90 and its 200-day simple moving average is $112.75.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group will post 9.42 earnings per share for the current year.

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.