BMO Capital Markets Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $104.00

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by BMO Capital Markets from $110.00 to $104.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price target would suggest a potential upside of 10.10% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Evercore reduced their price target on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research note on Thursday, February 5th. Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Morgan Stanley dropped their price objective on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $102.50.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $94.46 on Thursday. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 4.99 and a beta of 1.53. The business’s 50 day moving average price is $103.91 and its 200-day moving average price is $104.19.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned $2.12 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. boosted its holdings in shares of 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 buying an additional 100 shares in the last quarter. TD Private Client Wealth LLC lifted its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the third quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 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 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.