TD Cowen Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $116.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by stock analysts at TD Cowen from $120.00 to $116.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target points to a potential upside of 1.29% from the stock’s current price.

A number of other equities research analysts also recently issued reports on TROW. Evercore ISI upped their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday. Barclays boosted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.73.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $114.52 on Monday. The company has a market cap 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 has a 1 year low of $90.02 and a 1 year high of $122.27. The stock’s 50 day simple moving average is $108.52 and its two-hundred day simple moving average is $111.75.

T. Rowe Price Group (NASDAQ:TROW) last released 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.46%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group will post 9.16 EPS for the current year.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $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 company insiders.

Institutional Trading of T. Rowe Price Group

Large investors have recently made changes to their positions in the company. Iron Horse Wealth Management LLC raised its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC lifted its position in 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 in the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group during the second quarter worth $36,000. Finally, Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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.