Morgan Stanley Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target lowered by stock analysts at Morgan Stanley from $126.00 to $121.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential upside of 13.86% from the company’s current price.

A number of other equities research analysts have also issued reports on TROW. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Barclays reduced their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $106.27 on Monday. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock’s fifty day moving average is $112.79 and its two-hundred day moving average is $112.42. The firm has a market capitalization of $23.66 billion, a P/E ratio of 11.60, a PEG ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the company earned $1.72 earnings per share. On average, equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

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

About T. Rowe Price Group

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.