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T. Rowe Price Group (NASDAQ:TROW – Get Free Report) had its price target decreased by equities researchers at Morgan Stanley from $126.00 to $121.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 13.90% from the stock’s current price.
Several other research firms have also recently issued reports on TROW. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $114.09.
Get Our Latest Research Report on T. Rowe Price Group
T. Rowe Price Group Price Performance
Shares of T. Rowe Price Group stock opened at $106.23 on Monday. The business has a 50 day moving average price of $112.31 and a 200 day moving average price of $112.43. The company has a market capitalization of $23.65 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm earned $1.72 earnings per share. As a group, research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.
Insider Activity
In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Institutional Investors Weigh In On T. Rowe Price Group
A number of large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $117,704,000. Marshall Wace LLP acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth $63,284,000. Fayez Sarofim & Co boosted its stake in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares during the period. Amundi grew its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock worth $199,367,000 after buying an additional 387,604 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.
T. Rowe Price Group Company Profile
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.
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