TD Cowen Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by stock analysts at TD Cowen from $120.00 to $116.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price objective would indicate a potential upside of 3.05% from the stock’s previous close.

Other research analysts have also issued reports about the company. Barclays boosted their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. Finally, Morgan Stanley upped their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Trading Up 0.5 %

Shares of NASDAQ:TROW traded up $0.51 during trading on Monday, hitting $112.57. 972,109 shares of the company were exchanged, compared to its average volume of 1,252,325. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.71 and a beta of 1.41. T. Rowe Price Group has a fifty-two week low of $90.02 and a fifty-two week high of $122.27. The firm has a fifty day moving average price of $108.32 and a two-hundred day moving average price of $111.69.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 EPS. As a group, research analysts predict that T. Rowe Price Group will post 9.16 EPS for the current year.

Insider Activity

In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % 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.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group in the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.