JPMorgan Chase & Co. Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $106.00 to $103.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.98% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Argus raised T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Barclays lowered their price target on T. Rowe Price Group from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Friday, April 17th. Finally, Morgan Stanley lowered their price target on T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Ten investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $96.62.

T. Rowe Price Group Stock Down 0.4%

Shares of NASDAQ TROW opened at $99.06 on Friday. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $118.22. The business has a 50-day simple moving average of $92.30 and a two-hundred day simple moving average of $99.33. The company has a market cap of $21.56 billion, a P/E ratio of 10.71, a P/E/G ratio of 4.31 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group will post 9.69 EPS for the current year.

Institutional Trading of T. Rowe Price Group

A number of hedge funds have recently bought and sold shares of the company. Argent Advisors Inc. lifted its position in T. Rowe Price Group by 19.2% in the 1st quarter. Argent Advisors Inc. now owns 12,364 shares of the asset manager’s stock worth $1,114,000 after buying an additional 1,995 shares during the last quarter. USS Investment Management Ltd lifted its position in T. Rowe Price Group by 3.4% in the 1st quarter. USS Investment Management Ltd now owns 40,397 shares of the asset manager’s stock worth $3,642,000 after buying an additional 1,346 shares during the last quarter. IFM Investors Pty Ltd lifted its position in T. Rowe Price Group by 4.3% in the 1st quarter. IFM Investors Pty Ltd now owns 44,561 shares of the asset manager’s stock worth $4,017,000 after buying an additional 1,830 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV bought a new stake in T. Rowe Price Group in the 1st quarter worth approximately $571,000. Finally, Capricorn Fund Managers Ltd bought a new stake in T. Rowe Price Group in the 1st quarter worth approximately $7,524,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.