JPMorgan Chase & Co. Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $115.00

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by analysts at JPMorgan Chase & Co. from $116.00 to $115.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.42% from the stock’s current price.

A number of other brokerages have also recently commented on TROW. Evercore ISI lifted their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Barclays upped their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Stock Up 1.8 %

Shares of T. Rowe Price Group stock opened at $114.52 on Monday. T. Rowe Price Group has a 52 week low of $90.02 and a 52 week high of $122.27. The stock’s 50-day simple moving average is $108.52 and its 200-day simple moving average is $111.75. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.46%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 EPS. On average, equities analysts expect that T. Rowe Price Group will post 9.16 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norden Group LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $420,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 12.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,487 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 607 shares during the period. Fidelis Capital Partners LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at $121,000. Daiwa Securities Group Inc. raised its position in shares of T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock worth $2,685,000 after acquiring an additional 1,880 shares during the period. Finally, Paulson Wealth Management Inc. boosted its stake in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after acquiring an additional 95 shares in the last quarter. 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.