T. Rowe Price Group (NASDAQ:TROW) PT Lowered to $107.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by analysts at Evercore ISI from $110.00 to $107.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price objective indicates a potential downside of 2.99% from the company’s previous close.

TROW has been the subject of several other research reports. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Morgan Stanley lifted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Stock Up 0.7 %

Shares of T. Rowe Price Group stock opened at $110.30 on Tuesday. The company has a market cap of $24.63 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40. The business has a 50 day moving average price of $115.19 and a 200-day moving average price of $107.25. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS. As a group, research analysts anticipate that T. Rowe Price Group will post 8.45 EPS for the current year.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders sold 12,921 shares of company stock worth $1,500,133 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV lifted its holdings in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. OFI Invest Asset Management purchased a new position in T. Rowe Price Group in the third quarter worth about $25,000. First United Bank & Trust bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $31,000. Park Place Capital Corp increased its position in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $33,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.