TD Cowen Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by equities research analysts at TD Cowen from $120.00 to $116.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential upside of 3.05% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Barclays increased their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $114.73.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded up $0.51 during mid-day trading on Monday, reaching $112.57. The stock had a trading volume of 972,109 shares, compared to its average volume of 1,252,325. The business’s 50 day moving average is $108.32 and its 200 day moving average is $111.69. T. Rowe Price Group has a fifty-two week low of $90.02 and a fifty-two week high of $122.27. The stock has a market cap of $25.06 billion, a P/E ratio of 13.22, a PEG ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group will post 9.16 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its position in T. Rowe Price Group by 52.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after purchasing an additional 22,533 shares during the period. Forsta AP Fonden increased its position in T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the period. Mizuho Markets Americas LLC increased its position in T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after purchasing an additional 42,949 shares during the period. Savant Capital LLC boosted its holdings in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after buying an additional 8,816 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after buying an additional 6,780 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.