Barclays Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $90.00

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by analysts at Barclays from $85.00 to $90.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective would suggest a potential downside of 0.18% from the company’s previous close.

A number of other brokerages also recently weighed in on TROW. TD Cowen lowered their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Evercore ISI reduced their target price on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $94.09.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $90.16 on Monday. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The firm has a fifty day moving average price of $91.27 and a two-hundred day moving average price of $106.67.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company earned $2.38 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TROW. Nilsine Partners LLC grew its stake in T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares during the period. Principal Financial Group Inc. grew its position in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the period. Amundi increased its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Schroder Investment Management Group lifted its position in T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after acquiring an additional 73,307 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after acquiring an additional 20,062 shares during the period. Institutional investors own 73.39% of the company’s stock.

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.