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

T. Rowe Price Group (NASDAQ:TROW) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other analysts also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley lifted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $108.55 on Thursday. The company has a 50 day moving average price of $118.21 and a two-hundred day moving average price of $112.97. The company has a market capitalization of $24.12 billion, a PE ratio of 11.88, a PEG ratio of 1.73 and a beta of 1.43. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.39 earnings per share for the current year.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade 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. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC boosted its position 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 valued at $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its holdings 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 purchasing an additional 104 shares during the period. True Wealth Design LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Larson Financial Group LLC grew its position in shares of 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 purchasing an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of T. Rowe Price Group during the third quarter worth approximately $43,000. 73.39% of the stock is 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.