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

T. Rowe Price Group (NASDAQ:TROW) had its price target decreased by analysts at Barclays from $105.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target suggests a potential downside of 2.95% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Citigroup reduced their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Finally, Bank of America reduced their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $98.27.

T. Rowe Price Group Trading Down 1.9 %

TROW opened at $87.58 on Wednesday. The stock has a market cap of $19.46 billion, a PE ratio of 9.56, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The stock’s 50 day simple moving average is $97.08 and its 200-day simple moving average is $108.87.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the firm posted $1.72 earnings per share. Equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Addison Advisors LLC increased its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new position in T. Rowe Price Group during the 4th quarter worth $27,000. Y.D. More Investments Ltd boosted its holdings in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $32,000. Finally, Advantage Trust Co boosted its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 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 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.