BMO Capital Markets Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $104.00

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by investment analysts at BMO Capital Markets from $110.00 to $104.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 10.92% from the stock’s current price.

Several other research analysts have also recently weighed in on TROW. Morgan Stanley cut their price target on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. TD Cowen decreased their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $102.50.

T. Rowe Price Group Stock Up 0.6%

Shares of NASDAQ:TROW opened at $93.76 on Thursday. The business’s 50 day moving average is $103.40 and its 200 day moving average is $104.03. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.22. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 4.81 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted $2.12 earnings per share. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FORA Capital LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $437,000. CreativeOne Wealth LLC increased its holdings in T. Rowe Price Group by 13.1% during the 4th quarter. CreativeOne Wealth LLC now owns 65,933 shares of the asset manager’s stock worth $6,750,000 after acquiring an additional 7,613 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in T. Rowe Price Group by 12.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 453,644 shares of the asset manager’s stock worth $46,468,000 after purchasing an additional 49,682 shares in the last quarter. Bridgewater Associates LP bought a new position in T. Rowe Price Group in the 4th quarter valued at $2,175,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at $497,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.