Evercore ISI Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by equities researchers at Evercore ISI from $104.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price indicates a potential downside of 9.85% from the stock’s current price.

TROW has been the topic of several other research reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. TD Cowen reduced their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Bank of America reduced their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Finally, Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.36.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $88.74 on Friday. The stock has a fifty day simple moving average of $97.98 and a two-hundred day simple moving average of $109.16. The firm has a market capitalization of $19.72 billion, a PE ratio of 9.69, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 previous year, the firm posted $1.72 EPS. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nilsine Partners LLC lifted its position in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Amundi boosted its position in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Commonwealth Equity Services LLC grew its stake in T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after acquiring an additional 20,062 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock worth $25,229,000 after acquiring an additional 73,307 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.