T. Rowe Price Group (NASDAQ:TROW) Cut to Hold at StockNews.com

StockNews.com lowered shares of T. Rowe Price Group (NASDAQ:TROW) from a buy rating to a hold rating in a report published on Sunday.

TROW has been the subject of several other reports. TD Cowen cut their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Stock Up 0.2 %

NASDAQ TROW opened at $115.55 on Friday. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The business has a 50-day moving average price of $116.74 and a 200-day moving average price of $112.64. The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TROW. Los Angeles Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 70.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock worth $55,421,000 after acquiring an additional 201,802 shares during the last quarter. Amalgamated Bank increased its stake in T. Rowe Price Group by 0.9% in the fourth quarter. Amalgamated Bank now owns 44,661 shares of the asset manager’s stock worth $5,051,000 after purchasing an additional 391 shares during the period. Horizon Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $308,000. Addison Advisors LLC boosted its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Finally, Rothschild Investment LLC grew its holdings in shares of T. Rowe Price Group by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 9,828 shares of the asset manager’s stock worth $1,111,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.