Evercore Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $99.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by analysts at Evercore from $106.00 to $99.00 in a report released on Friday,MarketScreener reports. Evercore’s target price suggests a potential upside of 9.51% from the company’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley dropped their target price on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Barclays set a $94.00 price target on T. Rowe Price Group in a research report on Thursday, February 5th. TD Cowen dropped their price objective on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $101.69.

T. Rowe Price Group Trading Down 1.8%

Shares of TROW stock opened at $90.40 on Friday. The firm’s fifty day moving average price is $100.33 and its two-hundred day moving average price is $102.79. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $118.22. The firm has a market capitalization of $19.71 billion, a P/E ratio of 9.77, a PEG ratio of 4.67 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was 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 $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AG Campbell Advisory LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $345,000. Tobam boosted its position in T. Rowe Price Group by 21,661.1% during the fourth quarter. Tobam now owns 7,834 shares of the asset manager’s stock worth $802,000 after purchasing an additional 7,798 shares during the period. Anchor Investment Management LLC boosted its position in T. Rowe Price Group by 2.2% during the fourth quarter. Anchor Investment Management LLC now owns 28,974 shares of the asset manager’s stock worth $2,966,000 after purchasing an additional 612 shares during the period. KW Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 62.9% in the fourth quarter. KW Wealth Management LLC now owns 3,337 shares of the asset manager’s stock valued at $342,000 after purchasing an additional 1,289 shares during the last quarter. Finally, MidFirst Bank acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at $102,000. 73.39% of the stock is owned by institutional investors and hedge funds.

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.