T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by Deutsche Bank from $136.00 to $135.00 in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the asset manager’s stock.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of T. Rowe Price Group from a buy rating to a hold rating in a research report on Tuesday, July 3rd. ValuEngine downgraded shares of T. Rowe Price Group from a buy rating to a hold rating in a research report on Wednesday, July 25th. Zacks Investment Research raised shares of T. Rowe Price Group from a hold rating to a buy rating and set a $130.00 target price for the company in a research report on Monday, July 2nd. Wells Fargo & Co increased their target price on shares of T. Rowe Price Group from $114.00 to $124.00 and gave the company a market perform rating in a research report on Friday, July 13th. Finally, Morgan Stanley increased their target price on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company an equal weight rating in a research report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $118.27.

NASDAQ:TROW traded down $1.40 on Thursday, reaching $114.92. 39,814 shares of the stock traded hands, compared to its average volume of 1,445,374. The company has a market capitalization of $28.49 billion, a PE ratio of 21.15, a P/E/G ratio of 1.47 and a beta of 1.24. T. Rowe Price Group has a 1-year low of $81.61 and a 1-year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 25th. The asset manager reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a net margin of 31.67% and a return on equity of 28.49%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. research analysts expect that T. Rowe Price Group will post 7.23 EPS for the current fiscal year.

T. Rowe Price Group announced that its Board of Directors has approved a stock repurchase program on Thursday, April 26th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Freeman A. Hrabowski III sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $121.74, for a total transaction of $547,830.00. Following the completion of the sale, the director now owns 9,640 shares of the company’s stock, valued at approximately $1,173,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $122.58, for a total transaction of $612,900.00. Following the sale, the director now directly owns 13,769 shares of the company’s stock, valued at approximately $1,687,804.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,139 shares of company stock valued at $18,369,428. Insiders own 3.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global X Management Co LLC lifted its holdings in shares of T. Rowe Price Group by 22.2% in the 2nd quarter. Global X Management Co LLC now owns 7,411 shares of the asset manager’s stock worth $860,000 after purchasing an additional 1,348 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of T. Rowe Price Group by 80.1% in the 2nd quarter. Verition Fund Management LLC now owns 4,860 shares of the asset manager’s stock worth $564,000 after purchasing an additional 2,162 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of T. Rowe Price Group by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,641 shares of the asset manager’s stock worth $2,744,000 after purchasing an additional 502 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth $139,000. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 115.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,747 shares of the asset manager’s stock worth $783,000 after purchasing an additional 3,614 shares in the last quarter. Institutional investors own 71.63% of the company’s stock.

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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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