T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $100.00 by Analysts at Citigroup

T. Rowe Price Group (NASDAQ:TROW) had its price objective dropped by analysts at Citigroup from $120.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Citigroup’s price target suggests a potential upside of 9.89% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays reduced their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley reduced 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 report on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.82.

T. Rowe Price Group Stock Down 0.6 %

Shares of TROW stock traded down $0.57 during trading hours on Monday, reaching $91.00. 497,186 shares of the company’s stock were exchanged, compared to its average volume of 1,356,413. T. Rowe Price Group has a fifty-two week low of $89.71 and a fifty-two week high of $125.81. The stock has a market capitalization of $20.22 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.86 and a beta of 1.46. The business has a fifty day moving average price of $104.61 and a 200-day moving average price of $110.92.

T. Rowe Price Group (NASDAQ:TROW) last released 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 period in the prior year, the firm earned $1.72 EPS. As a group, research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was 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 directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds have recently made changes to their positions in TROW. Addison Advisors LLC boosted its stake in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $27,000. Y.D. More Investments Ltd raised its position 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 acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co boosted its position in shares of T. Rowe Price Group by 48.8% during the 4th 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 currently owned by 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.