T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $110.00 at BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) had its target price upped by equities researchers at BMO Capital Markets from $108.00 to $110.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ target price would indicate a potential upside of 2.50% from the company’s previous close.

Several other equities research analysts have also recently commented on TROW. Evercore ISI cut their price target on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Morgan Stanley upped their target price on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $107.54.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded up $1.24 during midday trading on Tuesday, hitting $107.32. The company’s stock had a trading volume of 1,236,431 shares, compared to its average volume of 1,893,710. The company has a market cap of $23.42 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.32. The business’s 50 day simple moving average is $103.51 and its 200 day simple moving average is $104.21.

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

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. lifted its holdings in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Root Financial Partners LLC bought a new position in T. Rowe Price Group during the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after buying an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $35,000. Institutional investors 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.