T. Rowe Price Group (NASDAQ:TROW) had its price target dropped by research analysts at Deutsche Bank from $141.00 to $139.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the asset manager’s stock. Deutsche Bank’s target price would suggest a potential upside of 12.22% from the stock’s current price.
TROW has been the subject of several other reports. UBS Group decreased their target price on shares of T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $115.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. Goldman Sachs Group lowered T. Rowe Price Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $120.00 to $84.00 in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $116.75.
Shares of TROW traded down $0.36 during mid-day trading on Thursday, reaching $123.86. The company had a trading volume of 906 shares, compared to its average volume of 1,220,667. T. Rowe Price Group has a 52-week low of $82.51 and a 52-week high of $139.82. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $28.27 billion, a P/E ratio of 15.38, a PEG ratio of 1.81 and a beta of 1.15. The stock has a 50 day moving average of $122.51 and a two-hundred day moving average of $118.83.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, April 28th. The asset manager reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.08. T. Rowe Price Group had a return on equity of 29.22% and a net margin of 33.86%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $1.87 earnings per share. T. Rowe Price Group’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group will post 7.32 earnings per share for the current year.
In other T. Rowe Price Group news, VP David Oestreicher sold 3,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $120.85, for a total transaction of $422,975.00. Following the transaction, the vice president now owns 97,673 shares of the company’s stock, valued at $11,803,782.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary K. Bush sold 1,851 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $115.34, for a total value of $213,494.34. Following the transaction, the director now owns 15,955 shares in the company, valued at $1,840,249.70. The disclosure for this sale can be found here. Insiders have sold 8,851 shares of company stock worth $1,047,719 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of T. Rowe Price Group by 2.0% during the first quarter. BlackRock Inc. now owns 19,051,071 shares of the asset manager’s stock valued at $1,860,339,000 after acquiring an additional 365,536 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of T. Rowe Price Group by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 10,261,418 shares of the asset manager’s stock valued at $1,002,028,000 after acquiring an additional 422,968 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 4.3% during the 1st quarter. Geode Capital Management LLC now owns 4,510,315 shares of the asset manager’s stock valued at $439,805,000 after acquiring an additional 186,509 shares during the last quarter. Norges Bank purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $286,226,000. Finally, Bank of New York Mellon Corp increased its stake in T. Rowe Price Group by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,009,234 shares of the asset manager’s stock worth $196,201,000 after purchasing an additional 31,721 shares during the period. 70.76% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Company Profile
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.
Featured Article: Management Fee
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.