TD Cowen Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by TD Cowen from $112.00 to $109.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. TD Cowen’s price objective suggests a potential upside of 1.57% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Bank of America lifted their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Evercore ISI dropped their target price on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Barclays upped their target price on T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research note on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $107.54.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $107.32 on Wednesday. The stock has a market capitalization of $23.42 billion, a PE ratio of 11.69, a P/E/G ratio of 2.69 and a beta of 1.52. The business has a 50 day simple moving average of $103.61 and a two-hundred day simple moving average of $104.23. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.32.

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, topping 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 business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $2.57 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction 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 in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Woodline Partners LP increased its position in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth boosted its stake in shares of T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. Strs Ohio purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $1,759,000. Voya Investment Management LLC increased its holdings in T. Rowe Price Group by 0.9% during the first quarter. Voya Investment Management LLC now owns 67,421 shares of the asset manager’s stock valued at $6,194,000 after buying an additional 593 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in T. Rowe Price Group by 27.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,017 shares of the asset manager’s stock worth $98,000 after buying an additional 217 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Key T. Rowe Price Group News

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

• Positive Sentiment: Evercore raised its price target to $116 (from $115), signaling upside potential and supporting the stock’s gains today. Evercore Raises PT to $116
• Positive Sentiment: BMO lifted its price target to $110 and kept a market-perform rating, a modest endorsement that helps support the stock. BMO Raises PT to $110
• Positive Sentiment: Zacks highlights T. Rowe’s history of earnings beats and suggests the company has the setup to beat again, which supports investor sentiment heading into future reports. Zacks: Earnings Beat Setup
• Positive Sentiment: Coverage pieces (Zacks/MSN) promoting T. Rowe as a strong growth stock add to bullish retail/institutional interest. MSN: Growth Thesis
• Neutral Sentiment: TD Cowen trimmed its target slightly to $109 (from $112) and kept a hold rating; this is largely neutral for immediate price direction given the small implied upside. TD Cowen Lowers PT to $109
• Negative Sentiment: Goldman Sachs cut its price target to $95 and maintained a “sell” rating — the most bearish call among recent notes and a key reason some selling pressure is present. Goldman Lowers PT to $95, Sells
• Negative Sentiment: Barclays trimmed its target to $101 and kept an underweight call, and Bank of America’s $86 target (raised marginally from $85) still implies substantial downside — both add downward pressure versus the current price. Barclays/BoA Targets

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.