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

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

Several other research firms have also recently weighed in on TROW. TD Cowen cut their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $112.84 on Thursday. The company has a 50 day moving average price of $118.22 and a two-hundred day moving average price of $113.05. The company has a market capitalization of $25.07 billion, a PE ratio of 12.35, a PEG ratio of 1.73 and a beta of 1.43. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.39 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. Geode Capital Management LLC increased its stake in shares of T. Rowe Price Group by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares during the last quarter. Provident Trust Co. grew its stake in shares of T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after buying an additional 47,998 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

About T. Rowe Price Group

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.