Jefferies Financial Group Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by investment analysts at Jefferies Financial Group from $107.00 to $91.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a “hold” rating on the asset manager’s stock. Jefferies Financial Group’s target price suggests a potential upside of 2.00% from the company’s previous close.

TROW has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. BMO Capital Markets reduced their target price on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Argus upgraded T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $98.00.

T. Rowe Price Group Trading Down 0.1%

Shares of TROW opened at $89.22 on Wednesday. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 3.80 and a beta of 1.50. The firm’s fifty day simple moving average is $92.92 and its 200-day simple moving average is $99.98. T. Rowe Price Group has a twelve month low of $79.01 and a twelve month high of $118.22.

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

Institutional Trading of T. Rowe Price Group

A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after acquiring an additional 143,109 shares during the last quarter. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after purchasing an additional 131,438 shares during the period. Finally, Morgan Stanley lifted its stake in shares of T. Rowe Price Group by 16.0% during the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock worth $352,528,000 after purchasing an additional 476,219 shares during the period. Institutional investors and hedge funds 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.