T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $110.00 by Analysts at BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) had its target price lowered by investment analysts at BMO Capital Markets from $120.00 to $110.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price target indicates a potential upside of 8.79% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group initiated coverage on T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 target price for the company. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Evercore set a $109.00 price target on T. Rowe Price Group in a report on Friday. Barclays lowered their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $103.92.

T. Rowe Price Group Trading Down 2.8%

Shares of T. Rowe Price Group stock traded down $2.88 during midday trading on Tuesday, reaching $101.11. The company had a trading volume of 1,121,610 shares, compared to its average volume of 2,059,082. The stock has a fifty day simple moving average of $108.37 and a 200 day simple moving average of $106.47. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $122.00. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 4.56 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.24 EPS. Sell-side analysts expect that T. Rowe Price Group will post 10.13 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in TROW. Elevation Wealth Partners LLC boosted its holdings in T. Rowe Price Group by 173.0% during the third quarter. Elevation Wealth Partners LLC now owns 273 shares of the asset manager’s stock worth $28,000 after buying an additional 173 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $35,000. Bank & Trust Co increased its stake in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $39,000. Finally, Clearstead Trust LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $41,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.