T. Rowe Price Group (NASDAQ:TROW) Rating Lowered to Hold at StockNews.com

T. Rowe Price Group (NASDAQ:TROWGet Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research analysts also recently commented on the stock. TD Cowen initiated coverage on shares of T. Rowe Price Group in a research report on Thursday, January 4th. They set an “underperform” rating and a $88.00 price objective for the company. Citigroup upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $100.00 to $95.00 in a research report on Tuesday, October 31st. Wells Fargo & Company restated an “underweight” rating and set a $105.00 price objective (up from $95.00) on shares of T. Rowe Price Group in a research report on Monday, January 8th. UBS Group boosted their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. Five research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $97.33.

Get Our Latest Stock Report on TROW

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $108.91 on Friday. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 2.47 and a beta of 1.40. The firm has a 50-day moving average of $106.96 and a 200-day moving average of $105.68.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.19. T. Rowe Price Group had a return on equity of 18.79% and a net margin of 25.50%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Robert C.T. Higginbotham sold 5,374 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $98.71, for a total value of $530,467.54. Following the sale, the vice president now owns 38,162 shares of the company’s stock, valued at $3,766,971.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the transaction, the insider now owns 49,000 shares in the company, valued at $4,825,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert C.T. Higginbotham sold 5,374 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $98.71, for a total transaction of $530,467.54. Following the transaction, the vice president now owns 38,162 shares in the company, valued at approximately $3,766,971.02. The disclosure for this sale can be found here. Insiders have sold a total of 73,320 shares of company stock valued at $7,237,878 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Union Savings Bank acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $26,000. Finally, First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 75.85% of the company’s stock.

About T. Rowe Price Group

(Get Free Report)

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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