T. Rowe Price Group (NASDAQ:TROW) PT Raised to $181.00

T. Rowe Price Group (NASDAQ:TROW) had its target price hoisted by analysts at Morgan Stanley from $169.00 to $181.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 2.51% from the company’s current price.

A number of other research firms have also commented on TROW. Barclays lifted their price objective on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the company an “underweight” rating in a research note on Monday, January 25th. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $170.00 to $200.00 in a research note on Thursday, January 14th. Credit Suisse Group lowered shares of T. Rowe Price Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $179.00 to $181.00 in a research note on Tuesday, March 30th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $134.00 to $170.00 in a report on Tuesday, January 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $157.27.

Shares of TROW traded down $0.39 during midday trading on Thursday, reaching $176.56. The stock had a trading volume of 4,563 shares, compared to its average volume of 1,211,499. T. Rowe Price Group has a 1-year low of $96.42 and a 1-year high of $179.62. The company’s fifty day simple moving average is $170.33 and its two-hundred day simple moving average is $152.29. The company has a market cap of $40.25 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.19 and a beta of 1.15.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, January 28th. The asset manager reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.21. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business earned $2.03 EPS. The company’s revenue was up 18.0% on a year-over-year basis. Research analysts expect that T. Rowe Price Group will post 9.23 earnings per share for the current year.

In other news, CEO William J. Stromberg sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $173.78, for a total value of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the completion of the transaction, the president now directly owns 472,138 shares of the company’s stock, valued at approximately $83,450,391.50. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Montag A & Associates Inc. acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $25,000. Ellevest Inc. raised its position in shares of T. Rowe Price Group by 435.0% in the fourth quarter. Ellevest Inc. now owns 214 shares of the asset manager’s stock valued at $32,000 after buying an additional 174 shares during the last quarter. Peconic Partners LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $35,000. Charter Oak Capital Management LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $39,000. Finally, Advisory Alpha LLC acquired a new position in T. Rowe Price Group during the third quarter worth approximately $38,000. 69.48% of the stock is owned by institutional investors and hedge funds.

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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