T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $111.00 at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $116.00 to $111.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 0.99% from the company’s current price.

Several other research firms have also recently commented on TROW. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. 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. Finally, Evercore ISI boosted their price objective on 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. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $112.11 on Monday. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a market cap of $24.91 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.73 and a beta of 1.43. The stock’s 50-day moving average is $118.12 and its 200-day moving average is $112.86.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business posted $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group will post 9.39 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 stock in a transaction on 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 in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth approximately $37,000. Larson Financial Group LLC lifted its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in T. Rowe Price Group in the 3rd quarter valued at $43,000. Institutional investors and hedge funds 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.