Barclays Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective reduced by research analysts at Barclays from $105.00 to $85.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective suggests a potential downside of 1.29% from the stock’s previous close.

TROW has been the topic of a number of other reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, Evercore ISI dropped their price target 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 note on Friday, April 11th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $96.00.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $86.11 on Wednesday. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The company’s 50 day moving average price is $96.11 and its 200 day moving average price is $108.55. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $1.72 earnings per share. Sell-side analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after buying an additional 346,369 shares in the last quarter. Fayez Sarofim & Co boosted its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after acquiring an additional 116,231 shares during the last quarter. Finally, Provident Trust Co. lifted its holdings in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during 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.