T. Rowe Price Group (NASDAQ:TROW) PT Lowered to $160.00

T. Rowe Price Group (NASDAQ:TROWGet Rating) had its target price decreased by investment analysts at BMO Capital Markets from $204.00 to $160.00 in a report released on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 30.04% from the stock’s current price.

TROW has been the subject of a number of other reports. StockNews.com started coverage on T. Rowe Price Group in a report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group cut T. Rowe Price Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $190.00 to $175.00 in a research note on Tuesday, January 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $156.00 target price on shares of T. Rowe Price Group in a report on Monday, April 11th. Citigroup reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $159.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, April 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $170.00.

TROW stock opened at $123.04 on Monday. The firm has a market cap of $28.03 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.83 and a beta of 1.28. The company’s fifty day simple moving average is $142.79 and its 200 day simple moving average is $172.29. T. Rowe Price Group has a 12-month low of $122.64 and a 12-month high of $224.55.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its quarterly earnings data on Thursday, April 28th. The asset manager reported $2.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.76 by ($0.14). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. T. Rowe Price Group had a net margin of 37.64% and a return on equity of 34.22%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.01 EPS. Equities analysts anticipate that T. Rowe Price Group will post 11.15 earnings per share for the current year.

In other news, insider Jessica M. Hiebler sold 1,260 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $143.65, for a total value of $180,999.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $142.92, for a total transaction of $1,174,230.72. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. CBOE Vest Financial LLC boosted its holdings in T. Rowe Price Group by 12.4% in the third quarter. CBOE Vest Financial LLC now owns 25,334 shares of the asset manager’s stock worth $4,984,000 after acquiring an additional 2,795 shares in the last quarter. MD Financial Management Inc. boosted its stake in T. Rowe Price Group by 7.4% in the 3rd quarter. MD Financial Management Inc. now owns 17,349 shares of the asset manager’s stock worth $3,413,000 after purchasing an additional 1,190 shares in the last quarter. Concord Wealth Partners increased its stake in T. Rowe Price Group by 3,180.0% during the 4th quarter. Concord Wealth Partners now owns 328 shares of the asset manager’s stock valued at $64,000 after purchasing an additional 318 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in T. Rowe Price Group by 7.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock worth $460,000 after buying an additional 167 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its stake in shares of T. Rowe Price Group by 18.3% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,349 shares of the asset manager’s stock worth $265,000 after buying an additional 209 shares in the last quarter. 71.80% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile (Get Rating)

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.

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