T. Rowe Price Group (NASDAQ:TROW) Cut to “Hold” at StockNews.com

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

Several other equities analysts have also recently commented on the stock. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Barclays boosted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Trading Down 1.1 %

NASDAQ:TROW opened at $112.13 on Friday. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.42 and a beta of 1.43. The business’s fifty day moving average price is $117.96 and its 200 day moving average price is $112.86.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping 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 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group will post 9.46 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of T. Rowe Price Group

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