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

T. Rowe Price Group (NASDAQ:TROWGet Free Report) had its price target lowered by equities research analysts at Morgan Stanley from $123.00 to $115.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 22.61% from the company’s previous close.

TROW has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Citigroup upped their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Evercore ISI cut their price objective on shares of T. Rowe Price Group from $116.00 to $106.00 in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $102.93.

Read Our Latest Research Report on TROW

T. Rowe Price Group Stock Performance

TROW stock opened at $93.79 on Tuesday. The company has a fifty day moving average price of $103.91 and a 200-day moving average price of $104.19. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $118.22. The company has a market capitalization of $20.47 billion, a P/E ratio of 10.14, a PEG ratio of 4.99 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. raised its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Essex Bank lifted its stake in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC increased its holdings in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after buying an additional 102 shares in the last quarter. MTM Investment Management LLC boosted its position in T. Rowe Price Group by 3.5% during the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after buying an additional 107 shares during the period. Finally, GenTrust LLC boosted its stake in shares of T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

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About T. Rowe Price Group

(Get Free Report)

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.

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