T. Rowe Price Group (NASDAQ:TROW) Given New $95.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on T. Rowe Price Group from $110 to $95 and maintained a "market perform" rating, implying roughly a 6.5% upside from the current share price.
• Analyst coverage is muted overall: 12 analysts rate the stock "Hold" and 4 "Sell," with a MarketBeat consensus of "Reduce" and an average target price of $98.
• T. Rowe Price's latest quarter delivered $2.44 EPS (missing estimates by $0.03) with revenue up 6% year-over-year, while the shares trade around $89.22, below the 200-day moving average (~$100).

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $110.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 6.48% from the company's current price.

TROW has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an "underweight" rating for the company in a report on Thursday, February 5th. BMO Capital Markets lowered their price objective on shares of T. Rowe Price Group from $110.00 to $104.00 and set a "market perform" rating on the stock in a research note on Thursday, February 12th. Bank of America raised their price objective on T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 9th. Finally, Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $98.00.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $89.22 on Wednesday. The company's fifty day moving average price is $92.92 and its two-hundred day moving average price is $99.98. T. Rowe Price Group has a 12 month low of $79.01 and a 12 month high of $118.22. The firm 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.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently modified their holdings of the stock. World Investment Advisors acquired a new position in T. Rowe Price Group during the fourth quarter worth $365,000. Corient Private Wealth LLC increased its position in shares of T. Rowe Price Group by 27.0% during the 4th quarter. Corient Private Wealth LLC now owns 43,207 shares of the asset manager's stock worth $4,436,000 after purchasing an additional 9,174 shares in the last quarter. AG Campbell Advisory LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at about $345,000. Tobam boosted its position in T. Rowe Price Group by 21,661.1% in the fourth quarter. Tobam now owns 7,834 shares of the asset manager's stock valued at $802,000 after buying an additional 7,798 shares in the last quarter. Finally, Anchor Investment Management LLC grew its stake in T. Rowe Price Group by 2.2% during the fourth quarter. Anchor Investment Management LLC now owns 28,974 shares of the asset manager's stock worth $2,966,000 after buying an additional 612 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Company Profile

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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