T. Rowe Price Group (NASDAQ:TROW) Rating Lowered to Hold at Zacks Research

T. Rowe Price Group (NASDAQ:TROW) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

TROW has been the subject of a number of other reports. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Finally, Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $110.56 on Thursday. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 4.33 and a beta of 1.47. The stock’s fifty day moving average price is $113.52 and its 200 day moving average price is $102.66. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The company 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 20.91% and a net margin of 29.26%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 EPS. Research analysts expect that T. Rowe Price Group will post 10.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the last quarter. DV Equities LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $32,000. Bank & Trust Co grew its stake in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 108 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $35,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.