T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $107.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by equities research analysts at Morgan Stanley from $115.00 to $107.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 18.70% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a report on Thursday, February 5th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Argus raised T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Finally, BMO Capital Markets lowered their target price on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Twelve equities research 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 presently has an average rating of “Reduce” and a consensus target price of $101.08.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $90.14 on Wednesday. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.73 and a beta of 1.54. The stock has a fifty day moving average price of $94.55 and a 200-day moving average price of $100.52. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $2.12 EPS. Research analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Hedge Funds Weigh In On T. Rowe Price Group

Large investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth $540,000. Greenspring Advisors LLC bought a new position in T. Rowe Price Group during the 3rd quarter worth $1,583,000. First Citizens Bank & Trust Co. raised its position in T. Rowe Price Group by 141.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after purchasing an additional 103,174 shares during the last quarter. Allen Wealth Management LLC lifted its holdings in T. Rowe Price Group by 459.3% during the 3rd quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock worth $1,422,000 after buying an additional 11,378 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after buying an additional 95,351 shares during 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.