Wells Fargo & Company Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by stock analysts at Wells Fargo & Company from $124.00 to $118.00 in a research note 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 suggest a potential upside of 6.66% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Barclays lifted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $116.00.

T. Rowe Price Group Stock Up 1.9 %

NASDAQ TROW opened at $110.63 on Tuesday. The company has a market capitalization of $24.58 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group has a 12-month low of $100.49 and a 12-month high of $125.81. The firm’s 50 day moving average is $118.17 and its 200-day moving average is $112.88.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.39 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds have recently added to or reduced their stakes in the business. Wynn Capital LLC grew its stake in shares of T. Rowe Price Group by 2.3% in the 4th quarter. Wynn Capital LLC now owns 5,402 shares of the asset manager’s stock valued at $611,000 after buying an additional 120 shares during the period. Fiduciary Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $269,000. West Oak Capital LLC increased its stake in T. Rowe Price Group by 5.0% during the 4th quarter. West Oak Capital LLC now owns 7,545 shares of the asset manager’s stock valued at $853,000 after purchasing an additional 360 shares in the last quarter. Global Financial Private Client LLC raised its holdings in T. Rowe Price Group by 1.3% during the fourth quarter. Global Financial Private Client LLC now owns 10,833 shares of the asset manager’s stock worth $1,225,000 after buying an additional 142 shares during the last quarter. Finally, Cullen Investment Group LTD. grew its holdings in shares of T. Rowe Price Group by 0.8% during the fourth quarter. Cullen Investment Group LTD. now owns 13,437 shares of the asset manager’s stock valued at $1,520,000 after buying an additional 111 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

About T. Rowe Price Group

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.