T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $123.00 by Analysts at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by Morgan Stanley from $128.00 to $123.00 in a report issued on Monday morning, Marketbeat.com reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on the stock. Bank of America raised their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating for the company in a research note on Wednesday, January 14th. Jefferies Financial Group upped their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $106.92.

T. Rowe Price Group Stock Down 0.8%

NASDAQ TROW traded down $0.82 during mid-day trading on Monday, hitting $105.83. The stock had a trading volume of 317,542 shares, compared to its average volume of 1,676,923. The company has a 50 day simple moving average of $104.80 and a 200 day simple moving average of $104.69. The company has a market cap of $23.10 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 2.56 and a beta of 1.52. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the period. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.