T. Rowe Price Group (NASDAQ:TROW) Stock Rating Lowered by Zacks Research

T. Rowe Price Group (NASDAQ:TROW) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $97.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Bank of America upped their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Finally, Morgan Stanley reduced their target price on T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Ten equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $97.38.

T. Rowe Price Group Stock Up 0.3%

NASDAQ:TROW opened at $96.11 on Tuesday. The stock has a market cap of $20.91 billion, a P/E ratio of 10.39, a PEG ratio of 4.15 and a beta of 1.50. The business’s 50-day moving average price is $91.72 and its two-hundred day moving average price is $99.58. T. Rowe Price Group has a twelve month low of $82.86 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. On average, equities research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in TROW. TD Private Client Wealth LLC boosted its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the period. Root Financial Partners LLC purchased a new position in shares of T. Rowe Price Group in the third quarter worth about $30,000. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Finally, Sound Income Strategies LLC lifted its stake in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.