T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $128.00

T. Rowe Price Group (NASDAQ:TROW) had its price target upped by Morgan Stanley from $126.00 to $128.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 21.79% from the company’s current price.

TROW has been the topic of several other reports. TD Cowen boosted their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Evercore ISI decreased their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $108.85.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $105.10 on Wednesday. The stock has a market capitalization of $22.94 billion, a PE ratio of 11.37, a P/E/G ratio of 3.42 and a beta of 1.53. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $119.09. The company has a fifty day moving average of $103.00 and a two-hundred day moving average of $102.65.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. lifted its position in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group in the third quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group during the second quarter worth about $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

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.