T. Rowe Price Group (NASDAQ:TROW) Price Target Cut to $107.00 by Analysts at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its target price reduced by Evercore ISI from $110.00 to $107.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

TROW has been the topic of several other reports. TD Cowen raised shares of T. Rowe Price Group from a sell rating to a hold rating and boosted their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an underweight rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an underperform rating to a market perform rating and raised their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a research report on Friday, April 5th. Finally, Morgan Stanley raised their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an equal weight rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $112.10.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $109.57 on Tuesday. The firm has a 50 day simple moving average of $115.17 and a 200 day simple moving average of $107.23. The company has a market cap of $24.50 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.14 and a beta of 1.40. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. T. Rowe Price Group’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, analysts expect that T. Rowe Price Group will post 8.36 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,921 shares of company stock valued at $1,500,133. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of hedge funds have recently bought and sold shares of the company. Simmons Bank lifted its position in shares of T. Rowe Price Group by 23.0% during the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP increased its stake in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after buying an additional 10,680 shares in the last quarter. Vest Financial LLC grew its holdings in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $953,000. 73.39% of the stock is owned by hedge funds and other 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.