Morgan Stanley Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by equities research analysts at Morgan Stanley from $115.00 to $107.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 18.66% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Barclays set a $94.00 price target on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. BMO Capital Markets decreased their price objective on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a research note on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $101.08.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $90.17 on Wednesday. The company has a market cap of $19.62 billion, a P/E ratio of 9.75, a PEG ratio of 3.77 and a beta of 1.50. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.22. The business’s 50-day simple moving average is $93.89 and its 200 day simple moving average is $100.37.

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

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the last quarter. Root Financial Partners LLC bought a new position in T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its position in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.