JP Morgan Cuts T. Rowe Price (TROW) Price Target to $106

JP Morgan has reiterated its Underweight rating on T. Rowe Price with a new price target of $106, a 5.77% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:19 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

JP Morgan cut its price target on T. Rowe Price Group, Inc. ($TROW) to $106 from $107 on October 13, 2026, and rates the stock "Underweight".

Since the rating, $TROW is down 0.4% to date (from the $101.39 close on Oct 13, 2026).

TROW T. Rowe Price Group, Inc.

$100.97 +0.35% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, JP Morgan reiterated its Underweight rating on T. Rowe Price Group, Inc. with a price target of $106, down from $107.
JP Morgan's $106 price target implies 5.77% upside from T. Rowe Price Group, Inc.'s ($TROW) current $100.22 share price.
As of October 16, 2026, T. Rowe Price shares recently traded around $100.22, which is about 5.5% below the new target.
Other analysts like Morgan Stanley and Evercore ISI also maintained their ratings, with targets of $110 and $109 respectively.

Get $TROW trade alerts by text

We text you when insiders, Congress or big funds trade $TROW. Free.

Not investment advice. EarningsIQ is not a registered investment adviser, and this automated T. Rowe Price Group, Inc. alert may contain errors. Disclosures

JP Morgan has reiterated its Underweight rating on T. Rowe Price Group, Inc. (TROW) on October 13, 2026, setting a price target of $106. This is a slight decrease from the previous target of $107. The stock has been trading below this target, with recent prices around $100.22 as of October 16, 2026.

JP Morgan's Call on T. Rowe Price

JP Morgan's current rating reflects its cautious outlook on T. Rowe Price, a firm that manages investments for various clients, including individuals and institutions. The new target of $106 suggests that JP Morgan sees limited upside potential in the stock at this time.

Other Institutional Activity in T. Rowe Price

Several other institutions have also made adjustments to their positions in T. Rowe Price. Blackrock Inc. grew its holdings by 1,227,242 shares, bringing its total to 23,996,119 shares worth about $2.42 billion. State Street Corporation added 381,073 shares, ending with 14,653,478 shares valued at approximately $1.48 billion. Meanwhile, Vanguard Capital Management LLC trimmed its stake by 188,342 shares, resulting in 13,972,686 shares worth around $1.41 billion.

T. Rowe Price Group, Inc. Stock Down 1.1%

T. Rowe Price closed at $100.22 recently, which is below the newly set target of $106. This positioning could signal a potential challenge for the stock to gain traction in the near term, especially with the market's overall sentiment toward financial services.

12-month forecast

$TROW price target

T. Rowe Price Group, Inc. daily closes and this analyst's $106 target. Not advice.

Recent Earnings

In its last financial report, T. Rowe Price reported trailing twelve-month revenue of $7.59 billion and earnings per share (EPS) of $9.96. The next earnings report is expected on October 30, 2026, which could provide further insights into the company’s performance.

Insider Buying and Selling at T. Rowe Price Group, Inc.

Recently, T. Rowe Price had some insider selling activity. Officer Stephon A. Jackson sold 3,000 shares at an average price of $102.56 on May 13, 2026, totaling about $307,680. Additionally, Officer Joshua B. Nelson sold 10,000 shares at an average price of $111.82 on August 25, 2026, amounting to approximately $1,118,203.

Analysts Set New Price Targets

On October 13, 2026, JP Morgan maintained its Underweight rating for T. Rowe Price with a target of $106, down from $107. Earlier, on October 12, TD Cowen maintained its Hold rating with a target of $109, slightly down from $110. Morgan Stanley also kept its Equal-Weight rating with a target of $110 on September 25, 2026.

About T. Rowe Price

T. Rowe Price Group, Inc. is a publicly owned investment manager based in Baltimore, MD. The firm provides investment management services across various sectors, managing equity and fixed-income mutual funds for both individual and institutional investors. This latest analyst activity reflects the firm's cautious stance in the current market environment.

Bottom Line

Investors should keep an eye on T. Rowe Price's upcoming earnings report on October 30, 2026, as it may influence future analyst ratings and price targets. The recent ratings from JP Morgan and others suggest a need for caution in this sector.