T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $116.00 at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by investment analysts at Wells Fargo & Company from $118.00 to $116.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.32% from the company’s current price.

Several other equities analysts also recently commented on TROW. Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Price Performance

TROW opened at $110.14 on Thursday. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock’s 50 day simple moving average is $116.05 and its 200 day simple moving average is $112.63. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, sell-side analysts anticipate 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 business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TROW. Nilsine Partners LLC increased its holdings in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after acquiring an additional 2,370 shares in the last quarter. Principal Financial Group Inc. grew its position 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 valued at $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Janus Henderson Group PLC raised its holdings in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group in the third quarter worth approximately $516,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares in the last quarter. Hedge funds and other 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.