T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $105.00 at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its price target decreased by analysts at Barclays from $113.00 to $105.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective would indicate a potential downside of 5.15% from the company’s previous close.

TROW has been the topic of several other research reports. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday. Evercore ISI raised their price objective 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. Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Price Performance

TROW opened at $110.70 on Thursday. The firm has a fifty day moving average price of $116.31 and a 200 day moving average price of $112.63. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock has a market cap of $24.59 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 previous year, the business posted $1.72 earnings per share. Equities analysts expect that T. Rowe Price Group will post 9.42 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’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 sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Addison Advisors LLC grew its holdings 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 buying an additional 93 shares during the last quarter. Hexagon Capital Partners LLC increased its position 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 acquiring an additional 104 shares during the period. Y.D. More Investments Ltd raised its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth approximately $32,000. 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.