Barclays Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by stock analysts at Barclays from $113.00 to $105.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price would indicate a potential downside of 4.67% from the company’s previous close.

TROW has been the subject of a number of other reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley increased their price objective on 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. Finally, TD Cowen lowered their target price on shares of 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $110.14 on Thursday. The firm has a market cap of $24.47 billion, a PE ratio of 12.05, a P/E/G ratio of 1.78 and a beta of 1.44. The business’s 50 day simple moving average is $116.05 and its 200 day simple moving average is $112.63. 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 posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. During the same quarter last year, the company earned $1.72 earnings per share. As a group, equities research analysts predict that T. Rowe Price Group will post 9.42 EPS for the current year.

Insider Activity

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

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares during the period. Geode Capital Management LLC raised its stake in 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 worth $598,801,000 after purchasing an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its holdings in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the period. Fisher Asset Management LLC grew its position in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after purchasing an additional 8,992 shares in the last quarter. Finally, Amundi increased its stake in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after acquiring an additional 397,278 shares during the period. 73.39% of the stock is currently owned by institutional investors.

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.