StockNews.com Downgrades T. Rowe Price Group (NASDAQ:TROW) to Hold

T. Rowe Price Group (NASDAQ:TROW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently issued reports on TROW. TD Cowen cut their target price 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. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Barclays boosted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Stock Down 1.6 %

TROW opened at $115.67 on Friday. The company’s 50-day moving average price is $117.98 and its 200 day moving average price is $113.22. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company earned $2.17 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group will post 9.39 earnings per share for the current year.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred 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 $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 is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the period. Forsta AP Fonden raised its holdings in shares of T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after acquiring an additional 17,100 shares during the period. Janus Henderson Group PLC raised its holdings in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares during the period. Savant Capital LLC lifted its position in shares of T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $15,907,000. Institutional investors own 73.39% of the company’s stock.

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.