T. Rowe Price Group (NASDAQ:TROW) Lowered to “Hold” Rating by StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

TROW has been the topic of several other reports. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. TD Cowen cut their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Trading Down 1.6 %

Shares of TROW opened at $115.67 on Friday. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The firm has a fifty day simple moving average of $117.98 and a 200 day simple moving average of $113.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 EPS. As a group, research analysts predict that T. Rowe Price Group will post 9.39 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC increased its position in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC bought a new position in T. Rowe Price Group during the third quarter worth $37,000. Larson Financial Group LLC lifted its holdings in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group during the third quarter valued at $43,000. 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 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.