Jefferies Financial Group Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROWGet Free Report) had its target price lowered by equities research analysts at Jefferies Financial Group from $107.00 to $91.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a “hold” rating on the asset manager’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 1.26% from the company’s previous close.

Several other equities analysts have also recently commented on the company. Evercore reduced their target price on T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday, March 6th. Morgan Stanley cut their price objective on T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. BMO Capital Markets cut their price objective on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Finally, The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $90.00 to $80.00 and set a “sell” rating for the company in a report on Monday. Twelve equities research 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, the stock presently has an average rating of “Reduce” and an average price target of $97.69.

View Our Latest Stock Report on T. Rowe Price Group

T. Rowe Price Group Stock Up 0.4%

T. Rowe Price Group stock opened at $92.16 on Wednesday. T. Rowe Price Group has a 52 week low of $82.86 and a 52 week high of $118.22. The business has a 50-day simple moving average of $92.40 and a 200 day simple moving average of $99.87. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 3.92 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. TD Private Client Wealth LLC raised its position in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 acquiring an additional 238 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group in the 3rd quarter worth approximately $30,000. Canton Hathaway LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC raised its position in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Key T. Rowe Price Group News

Here are the key news stories impacting T. Rowe Price Group this week:

About T. Rowe Price Group

(Get Free Report)

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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