Morgan Stanley Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by investment analysts at Morgan Stanley from $128.00 to $123.00 in a report issued on Monday, Marketbeat reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.81% from the company’s previous close.

Several other brokerages also recently weighed in on TROW. TD Cowen cut their price objective on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a report on Tuesday, December 16th. Barclays reduced their price objective on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research report on Thursday, January 15th. Citigroup raised their target price on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $106.92.

T. Rowe Price Group Trading Down 3.7%

Shares of NASDAQ TROW opened at $102.66 on Monday. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.22. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 2.58 and a beta of 1.53. The stock’s 50 day simple moving average is $104.83 and its 200 day simple moving average is $104.67.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently modified their holdings of TROW. TD Waterhouse Canada Inc. grew its position in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. 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 global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.