T. Rowe Price Group (NASDAQ:TROW) Given New $91.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies cut its price target on T. Rowe Price to $91 from $107 and maintained a "hold" rating, implying only about a 2% upside from the current share price.
• Analyst sentiment has cooled — several firms have trimmed targets and ratings, the consensus target is $98, and the average rating on the stock is "Reduce" (12 Holds, 4 Sells).
• Recent earnings and valuation — TROW posted Q4 EPS of $2.44 (missed by $0.03) with revenue up 6%, the stock trades near $89, has a P/E of 9.65, and a 52-week range of $79.01–$118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target cut by analysts at Jefferies Financial Group from $107.00 to $91.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has a "hold" rating on the asset manager's stock. Jefferies Financial Group's price objective indicates a potential upside of 2.00% from the stock's current price.

A number of other research firms also recently commented on TROW. TD Cowen cut their price objective on shares of T. Rowe Price Group from $109.00 to $97.00 and set a "hold" 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. Evercore dropped their target price on T. Rowe Price Group from $106.00 to $99.00 in a report on Friday, March 6th. Finally, Keefe, Bruyette & Woods reduced their price target on T. Rowe Price Group from $110.00 to $95.00 and set a "market perform" rating on the stock in a report on Wednesday. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $98.00.

T. Rowe Price Group Stock Down 0.1%

TROW stock opened at $89.22 on Wednesday. T. Rowe Price Group has a 52 week low of $79.01 and a 52 week high of $118.22. The stock has a market capitalization of $19.41 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.80 and a beta of 1.50. The firm has a 50-day simple moving average of $92.92 and a 200-day simple moving average of $99.98.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $2.12 EPS. T. Rowe Price Group's revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC boosted its position in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at $30,000. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at $31,000. Finally, Sound Income Strategies LLC grew its stake in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

About T. Rowe Price Group

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.

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