Barclays Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by Barclays from $102.00 to $101.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential downside of 5.99% from the stock’s previous close.

A number of other research analysts have also weighed in on TROW. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, November 3rd. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Finally, The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research report on Tuesday, November 25th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $108.00.

T. Rowe Price Group Stock Up 1.3%

Shares of NASDAQ TROW traded up $1.36 during trading on Thursday, hitting $107.44. The company had a trading volume of 504,021 shares, compared to its average volume of 1,817,010. The firm has a market capitalization of $23.45 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52. The stock has a fifty day simple moving average of $103.51 and a two-hundred day simple moving average of $104.21. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Woodline Partners LP increased its stake in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after buying an additional 5,467 shares during the period. Focus Partners Wealth grew its stake in shares of T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of T. Rowe Price Group by 0.9% in the first quarter. Voya Investment Management LLC now owns 67,421 shares of the asset manager’s stock worth $6,194,000 after acquiring an additional 593 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of T. Rowe Price Group by 27.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,017 shares of the asset manager’s stock worth $98,000 after acquiring an additional 217 shares during the period. Finally, Czech National Bank raised its stake in shares of T. Rowe Price Group by 5.3% in the second quarter. Czech National Bank now owns 53,853 shares of the asset manager’s stock valued at $5,197,000 after acquiring an additional 2,718 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.