JPMorgan Chase & Co. Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $90.00

T. Rowe Price Group (NASDAQ:TROW) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $110.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.52% from the company’s current price.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday. Barclays decreased their price target on T. Rowe Price Group from $105.00 to $85.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $96.00.

T. Rowe Price Group Stock Up 0.9 %

TROW stock opened at $86.11 on Wednesday. The company’s 50-day moving average price is $96.11 and its two-hundred day moving average price is $108.55. The firm has a market cap of $19.14 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.72 earnings per share. Equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s 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 sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth $27,000. Y.D. More Investments Ltd grew its stake in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $32,000. Finally, Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.