Wells Fargo & Company Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $116.00

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by equities researchers at Wells Fargo & Company from $118.00 to $116.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.32% from the stock’s current price.

Several other research analysts also recently commented on the stock. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Keefe, Bruyette & Woods cut their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Price Performance

Shares of TROW opened at $110.14 on Thursday. The firm has a market cap of $24.47 billion, a PE ratio of 12.05, a PEG ratio of 1.78 and a beta of 1.44. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock’s fifty day moving average price is $116.05 and its two-hundred day moving average price is $112.63.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 period in the prior year, the firm earned $1.72 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group will post 9.42 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly 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 legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of large investors have recently added to or reduced their stakes in the company. Insight Folios Inc increased its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services boosted its stake in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares in the last quarter. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Finally, Nvwm LLC lifted its holdings in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors 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.