Weiss Ratings Reaffirms Hold (C) Rating for T. Rowe Price Group (NASDAQ:TROW)

Key Points

• Weiss Ratings reaffirmed a "hold (C)" rating for T. Rowe Price Group (NASDAQ:TROW), indicating a cautious stance on the stock's performance.
• Financial analysts have varying opinions on TROW, with some raising target prices, while Zacks Research downgraded it from "strong buy" to "hold"; the average target price is $104.92.
• T. Rowe Price Group's latest earnings showed a slight decline in revenue year-over-year, achieving $2.24 EPS, which surpassed analyst estimates.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report)'s stock had its "hold (c)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

TROW has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. BMO Capital Markets began coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price objective on the stock. Morgan Stanley raised their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research report on Monday. Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $104.92.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded up $0.04 during trading on Wednesday, hitting $105.82. 1,184,836 shares of the stock were exchanged, compared to its average volume of 1,459,711. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The company's fifty day simple moving average is $105.76 and its 200-day simple moving average is $98.32.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $2.26 EPS. T. Rowe Price Group's revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the stock. TFG Advisers LLC grew its stake in shares of T. Rowe Price Group by 3.6% during the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager's stock worth $268,000 after purchasing an additional 97 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager's stock worth $25,000 after purchasing an additional 100 shares during the period. Bill Few Associates Inc. grew its stake in shares of T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager's stock worth $249,000 after purchasing an additional 107 shares during the period. Cooper Financial Group grew its stake in shares of T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares during the period. Finally, Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.

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