T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $107.00 by Analysts at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by equities researchers at Evercore ISI from $110.00 to $107.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target would indicate a potential downside of 3.50% from the stock’s current price.

A number of other research analysts also recently commented on TROW. Wells Fargo & Company increased their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group upped their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Trading Down 1.1 %

TROW traded down $1.20 during trading on Tuesday, hitting $110.88. 149,021 shares of the company traded hands, compared to its average volume of 1,433,742. The stock’s 50-day simple moving average is $115.16 and its two-hundred day simple moving average is $107.17. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market cap of $24.80 billion, a PE ratio of 13.25, a P/E/G ratio of 2.14 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 earnings per share. Equities analysts expect that T. Rowe Price Group will post 8.36 EPS for the current year.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Simmons Bank grew its holdings in shares of T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the period. L. Roy Papp & Associates LLP raised its position in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after buying an additional 8,773 shares during the period. Nordea Investment Management AB lifted its holdings in T. Rowe Price Group by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares during the last quarter. Vest Financial LLC lifted its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares during the last quarter. Finally, Cullen Investment Group LTD. purchased a new position in T. Rowe Price Group in the fourth quarter worth approximately $953,000. 73.39% of the stock is owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.