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

T. Rowe Price Group (NASDAQ:TROW) had its price target dropped by investment analysts at Barclays from $103.00 to $102.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective would suggest a potential upside of 1.52% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets reduced their price objective on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. UBS Group began coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 target price on the stock. Finally, Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $100.47 on Wednesday. The stock’s 50 day simple moving average is $108.09 and its two-hundred day simple moving average is $106.55. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00. The company has a market cap of $21.43 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 4.50 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $2.24 earnings per share. As a group, analysts anticipate that T. Rowe Price Group will post 10.13 EPS for the current year.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter worth about $2,728,119,000. State Street Corp increased its stake in shares of T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock valued at $1,665,954,000 after purchasing an additional 381,183 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock worth $358,187,000 after purchasing an additional 524,544 shares during the period. First Trust Advisors LP grew its holdings in T. Rowe Price Group by 12.6% in the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after purchasing an additional 413,317 shares during the period. Finally, Provident Trust Co. increased its holdings in T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock worth $234,355,000 after acquiring an additional 8,524 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.