Barclays Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $90.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective lifted by equities research analysts at Barclays from $85.00 to $90.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the asset manager's stock. Barclays's price objective would suggest a potential downside of 2.34% from the company's current price.

Several other equities analysts have also issued reports on the company. Citigroup cut their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Finally, TD Cowen reduced their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $96.45.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $0.51 during trading on Monday, hitting $92.16. 812,745 shares of the company were exchanged, compared to its average volume of 1,468,344. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 2.86 and a beta of 1.50. The business's 50-day simple moving average is $91.81 and its 200 day simple moving average is $106.96.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business earned $2.38 earnings per share. On average, equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 completion of the transaction, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently made changes to their positions in the stock. Addison Advisors LLC lifted its holdings 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 valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted its position in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Finally, Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

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.

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