T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $103.00 at JPMorgan Chase & Co.

T. Rowe Price Group (NASDAQ:TROW) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $106.00 to $103.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.35% from the company’s current price.

A number of other analysts also recently commented on TROW. Zacks Research downgraded shares of T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Jefferies Financial Group dropped their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Ten equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $96.62.

T. Rowe Price Group Trading Up 0.2%

T. Rowe Price Group stock traded up $0.18 during midday trading on Friday, reaching $99.67. 579,869 shares of the stock traded hands, compared to its average volume of 2,275,111. The firm has a fifty day moving average price of $92.19 and a two-hundred day moving average price of $99.42. The firm has a market cap of $21.69 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 4.34 and a beta of 1.50. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 earnings per share. Analysts anticipate that T. Rowe Price Group will post 9.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IFM Investors Pty Ltd boosted its stake in T. Rowe Price Group by 4.3% during the 1st quarter. IFM Investors Pty Ltd now owns 44,561 shares of the asset manager’s stock worth $4,017,000 after acquiring an additional 1,830 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV bought a new position in T. Rowe Price Group in the first quarter valued at approximately $571,000. Capricorn Fund Managers Ltd bought a new position in T. Rowe Price Group in the first quarter valued at approximately $7,524,000. iA Global Asset Management Inc. lifted its stake in T. Rowe Price Group by 16.7% in the first quarter. iA Global Asset Management Inc. now owns 22,311 shares of the asset manager’s stock valued at $2,011,000 after buying an additional 3,193 shares in the last quarter. Finally, Traub Capital Management LLC lifted its stake in T. Rowe Price Group by 6.9% in the first quarter. Traub Capital Management LLC now owns 2,790 shares of the asset manager’s stock valued at $251,000 after buying an additional 180 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.