Keefe, Bruyette & Woods Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $116.00 to $111.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 0.92% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Barclays raised their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Finally, Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.55.

T. Rowe Price Group Stock Up 1.3 %

Shares of NASDAQ TROW traded up $1.44 during midday trading on Monday, hitting $109.99. The stock had a trading volume of 783,491 shares, compared to its average volume of 1,169,837. The stock has a 50 day simple moving average of $118.21 and a 200-day simple moving average of $112.92. The company has a market capitalization of $24.44 billion, a PE ratio of 12.03, a P/E/G ratio of 1.73 and a beta of 1.43. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $2.17 earnings per share. As a group, analysts expect that T. Rowe Price Group will post 9.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in T. Rowe Price Group during the second quarter worth $401,000. LPL Financial LLC increased its position in shares of T. Rowe Price Group by 9.8% in the second quarter. LPL Financial LLC now owns 270,738 shares of the asset manager’s stock valued at $31,219,000 after buying an additional 24,075 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of T. Rowe Price Group by 18.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 119,032 shares of the asset manager’s stock valued at $13,697,000 after buying an additional 18,949 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in shares of T. Rowe Price Group by 28.0% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,106 shares of the asset manager’s stock worth $358,000 after buying an additional 680 shares during the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at about $467,000. 73.39% of the stock is 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.