Barclays Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $103.00

T. Rowe Price Group (NASDAQ:TROW) had its target price trimmed by Barclays from $108.00 to $103.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

Several other equities research analysts have also recently commented on the company. TD Cowen cut their target price on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, July 10th. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Finally, Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $105.92.

T. Rowe Price Group Price Performance

TROW opened at $114.98 on Monday. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 3.73 and a beta of 1.47. The business’s 50-day moving average price is $112.42 and its two-hundred day moving average price is $102.30. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group will post 10.12 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its stake in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position 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 buying an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $31,000. Sound Income Strategies LLC raised its stake in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares during the period. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. 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.