Barclays Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target dropped by analysts at Barclays from $108.00 to $103.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 7.83% from the company’s current price.

Several other research analysts have also commented on the company. The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group dropped their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. BMO Capital Markets increased their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $104.67.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $111.75 on Monday. The company has a market capitalization of $23.94 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 4.01 and a beta of 1.47. T. Rowe Price Group has a 52-week low of $85.22 and a 52-week high of $122.00. The business’s fifty day moving average is $111.77 and its 200 day moving average is $102.11.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group will post 10.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC grew its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the period. Canton Hathaway LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth $31,000. Sound Income Strategies LLC lifted its stake in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $32,000. 73.39% of the stock is currently owned by institutional investors.

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.