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

T. Rowe Price Group (NASDAQ:TROW) had its price objective reduced by stock analysts at Wells Fargo & Company from $116.00 to $98.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.70% from the stock’s previous close.

A number of other equities research analysts have also recently commented on TROW. The Goldman Sachs Group reduced 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 report on Thursday, April 3rd. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley dropped their target price on 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. Citigroup decreased their price target on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, Bank of America dropped 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. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $104.75.

T. Rowe Price Group Stock Up 12.3 %

NASDAQ:TROW opened at $90.16 on Tuesday. The company has a market capitalization of $20.04 billion, a PE ratio of 9.84, a P/E/G 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. The stock’s 50 day moving average price is $99.10 and its 200 day moving average price is $109.45.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $1.72 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of TROW. ST Germain D J Co. Inc. increased its stake in T. Rowe Price Group by 9.1% in the first quarter. ST Germain D J Co. Inc. now owns 34,216 shares of the asset manager’s stock valued at $3,143,000 after purchasing an additional 2,852 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $373,000. Czech National Bank boosted its position in shares of T. Rowe Price Group by 6.2% in the first quarter. Czech National Bank now owns 51,135 shares of the asset manager’s stock worth $4,698,000 after acquiring an additional 2,966 shares during the last quarter. Rhumbline Advisers raised its stake in T. Rowe Price Group by 3.8% during the first quarter. Rhumbline Advisers now owns 453,740 shares of the asset manager’s stock worth $41,685,000 after purchasing an additional 16,693 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. 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.