T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $109.00

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by Morgan Stanley from $105.00 to $109.00 in a research report issued to clients and investors on Friday,MarketScreener reports. Morgan Stanley’s price target points to a potential upside of 2.50% from the stock’s current price.

A number of other brokerages have also issued reports on TROW. TD Cowen boosted their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Barclays raised their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Evercore raised their price objective on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Finally, Jefferies Financial Group cut their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $100.38.

T. Rowe Price Group Trading Up 1.1%

Shares of NASDAQ:TROW opened at $106.34 on Friday. The firm has a 50 day moving average of $103.66 and a 200-day moving average of $99.88. The stock has a market capitalization of $22.79 billion, a PE ratio of 11.40, a PEG ratio of 5.41 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $2.23 earnings per share. On average, research analysts predict that T. Rowe Price Group will post 9.58 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Private Client Wealth LLC grew its holdings in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new position in T. Rowe Price Group in the 4th quarter valued at about $31,000. Sound Income Strategies LLC boosted its stake in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new position in T. Rowe Price Group during the 4th quarter valued at about $32,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.