Keefe, Bruyette & Woods Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $117.00 to $115.00 in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.68% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Citigroup boosted their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Jefferies Financial Group raised their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Bank of America upped their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Finally, BMO Capital Markets assumed coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective on the stock. 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 MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $108.85.

T. Rowe Price Group Trading Down 0.0%

Shares of NASDAQ TROW opened at $103.90 on Tuesday. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 3.43 and a beta of 1.53. The business has a fifty day simple moving average of $102.96 and a 200 day simple moving average of $102.66. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.89.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $2.57 EPS. The business’s revenue for the quarter 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 fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Arif Husain sold 4,260 shares of the 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 transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Candriam S.C.A. grew its position in T. Rowe Price Group by 20.4% in the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 5,236 shares in the last quarter. Amundi raised its holdings in shares of T. Rowe Price Group by 16.9% during the 2nd quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock valued at $153,714,000 after purchasing an additional 232,361 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in shares of T. Rowe Price Group by 4.2% in the 1st quarter. Level Four Advisory Services LLC now owns 102,084 shares of the asset manager’s stock valued at $9,379,000 after purchasing an additional 4,141 shares during the last quarter. Kestra Investment Management LLC lifted its stake in shares of T. Rowe Price Group by 268.4% in the 1st quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock valued at $3,252,000 after purchasing an additional 25,793 shares during the last quarter. Finally, Promethium Advisors LLC boosted its holdings in T. Rowe Price Group by 45.2% in the first quarter. Promethium Advisors LLC now owns 46,460 shares of the asset manager’s stock worth $4,268,000 after purchasing an additional 14,473 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

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.