T. Rowe Price Group (NASDAQ:TROW) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

TROW has been the subject of several other research reports. UBS Group lowered their price objective on T. Rowe Price Group from $125.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, May 24th. Wells Fargo & Co upped their price objective on T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a research note on Friday, July 13th. Zacks Investment Research raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Jefferies Financial Group raised shares of T. Rowe Price Group from a “neutral” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, Morgan Stanley increased their target price on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $118.27.

T. Rowe Price Group stock opened at $115.61 on Friday. T. Rowe Price Group has a 1 year low of $81.61 and a 1 year high of $127.43. The company has a market capitalization of $28.49 billion, a PE ratio of 21.29, a PEG ratio of 1.47 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, July 25th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.11. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. analysts expect that T. Rowe Price Group will post 7.23 EPS for the current fiscal year.

T. Rowe Price Group announced that its board has authorized a share repurchase plan on Thursday, April 26th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other news, VP W. Sharps Robert sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $126.34, for a total transaction of $4,548,240.00. Following the completion of the sale, the vice president now owns 487,917 shares of the company’s stock, valued at approximately $61,643,433.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher D. Alderson sold 41,639 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $121.89, for a total transaction of $5,075,377.71. Following the sale, the vice president now directly owns 114,860 shares of the company’s stock, valued at approximately $14,000,285.40. The disclosure for this sale can be found here. Insiders have sold a total of 148,139 shares of company stock valued at $18,369,428 in the last three months. Insiders own 3.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. GHP Investment Advisors Inc. grew its position in shares of T. Rowe Price Group by 2.2% during the 2nd quarter. GHP Investment Advisors Inc. now owns 23,476 shares of the asset manager’s stock worth $2,725,000 after buying an additional 495 shares during the period. Global X Management Co LLC grew its position in shares of T. Rowe Price Group by 22.2% during the 2nd quarter. Global X Management Co LLC now owns 7,411 shares of the asset manager’s stock worth $860,000 after buying an additional 1,348 shares during the period. Verition Fund Management LLC grew its position in shares of T. Rowe Price Group by 80.1% during the 2nd quarter. Verition Fund Management LLC now owns 4,860 shares of the asset manager’s stock worth $564,000 after buying an additional 2,162 shares during the period. Advisors Asset Management Inc. grew its position in shares of T. Rowe Price Group by 2.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 23,641 shares of the asset manager’s stock worth $2,744,000 after buying an additional 502 shares during the period. Finally, Focused Wealth Management Inc acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $139,000. 71.63% of the stock is owned by institutional investors.

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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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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