T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $98.00 at Wells Fargo & Company

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by stock analysts at Wells Fargo & Company from $116.00 to $98.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 22.09% from the company’s previous close.

Several other research analysts also recently weighed in on TROW. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Bank of America lowered their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research report on Thursday, April 3rd. Citigroup cut their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Finally, Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.00.

T. Rowe Price Group Trading Down 1.7 %

NASDAQ TROW traded down $1.39 during trading on Tuesday, hitting $80.27. The company had a trading volume of 2,990,837 shares, compared to its average volume of 1,409,968. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The company’s fifty day moving average is $101.54 and its 200-day moving average is $110.12. The company has a market cap of $17.84 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the company earned $1.72 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after acquiring an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares during the period. Fayez Sarofim & Co grew its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after purchasing an additional 116,231 shares during the period. Finally, Provident Trust Co. raised its holdings in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing an additional 213,566 shares during the period. 73.39% 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.