T. Rowe Price Group (NASDAQ:TROW) Earns Underweight Rating from Barclays

T. Rowe Price Group (NASDAQ:TROW)‘s stock had its “underweight” rating reaffirmed by analysts at Barclays in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $95.00 price target on the asset manager’s stock, up from their previous price target of $91.00. Barclays‘s price target would indicate a potential downside of 9.88% from the company’s previous close.

Several other brokerages have also recently weighed in on TROW. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a report on Monday. Morgan Stanley lifted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $101.09.

T. Rowe Price Group Trading Down 0.2%

NASDAQ:TROW traded down $0.23 during mid-day trading on Monday, hitting $105.42. The stock had a trading volume of 1,332,144 shares, compared to its average volume of 1,913,845. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 2.87 and a beta of 1.47. The company has a 50 day simple moving average of $98.84 and a 200-day simple moving average of $98.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AGF Management Ltd. acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $217,000. Summit Investment Advisors Inc. raised its stake in T. Rowe Price Group by 10.9% during the 1st quarter. Summit Investment Advisors Inc. now owns 15,260 shares of the asset manager’s stock valued at $1,402,000 after purchasing an additional 1,503 shares during the last quarter. AE Wealth Management LLC boosted its holdings in T. Rowe Price Group by 11,027.9% in the 2nd quarter. AE Wealth Management LLC now owns 245,037 shares of the asset manager’s stock valued at $23,646,000 after purchasing an additional 242,835 shares during the period. Wedbush Securities Inc. grew its position in T. Rowe Price Group by 3.5% in the 2nd quarter. Wedbush Securities Inc. now owns 8,307 shares of the asset manager’s stock worth $802,000 after purchasing an additional 281 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its stake in shares of T. Rowe Price Group by 1.7% in the second quarter. Twin Capital Management Inc. now owns 30,610 shares of the asset manager’s stock valued at $2,954,000 after buying an additional 498 shares during the period. 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.