T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $118.00 at TD Cowen

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by TD Cowen from $123.00 to $118.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price indicates a potential upside of 5.20% from the stock’s previous close.

A number of other research firms also recently issued reports on TROW. Deutsche Bank Aktiengesellschaft lowered their price target on T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating for the company in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday. Finally, Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.10.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded up $0.09 during mid-day trading on Monday, reaching $112.17. The company’s stock had a trading volume of 939,914 shares, compared to its average volume of 1,294,667. The stock has a market cap of $25.05 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.63 and a beta of 1.42. The company’s fifty day simple moving average is $116.47 and its two-hundred day simple moving average is $114.14. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $128.14.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.02 earnings per share. Sell-side analysts expect that T. Rowe Price Group will post 8.98 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the second quarter worth about $29,000. First United Bank & Trust bought a new stake in T. Rowe Price Group during the fourth quarter worth approximately $31,000. Park Place Capital Corp grew its position in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the last quarter. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the second quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its stake in shares of T. Rowe Price Group by 660.5% during 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 in the last quarter. 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.