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

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by Evercore ISI from $110.00 to $107.00 in a report published on Tuesday, Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

A number of other research analysts have also recently weighed in on TROW. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a sell rating in a research report on Friday, April 12th. StockNews.com cut T. Rowe Price Group from a buy rating to a hold rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an underweight rating in a report on Tuesday, April 16th. Finally, TD Cowen upgraded T. Rowe Price Group from a sell rating to a hold rating and upped their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $112.10.

T. Rowe Price Group Stock Up 0.3 %

NASDAQ TROW opened at $111.50 on Tuesday. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76. The company has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. The stock’s 50-day moving average price is $115.19 and its 200-day moving average price is $107.28.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm posted $1.69 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group will post 8.75 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders sold 12,921 shares of company stock worth $1,500,133 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. WBI Investments LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at $2,431,000. Paulson Wealth Management Inc. raised its stake in shares of T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of T. Rowe Price Group by 8.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 120,760 shares of the asset manager’s stock worth $14,723,000 after acquiring an additional 9,708 shares during the last quarter. Mutual Advisors LLC boosted its stake in shares of T. Rowe Price Group by 11.7% during the 1st quarter. Mutual Advisors LLC now owns 38,083 shares of the asset manager’s stock worth $4,643,000 after purchasing an additional 3,993 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 9.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock valued at $2,685,000 after purchasing an additional 1,880 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.