T. Rowe Price Group (NASDAQ:TROW) Coverage Initiated by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of T. Rowe Price Group (NASDAQ:TROW) in a note issued to investors on Wednesday. The firm set a “neutral” rating and a $107.00 price target on the asset manager’s stock. UBS Group’s price target indicates a potential upside of 3.86% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on TROW. Morgan Stanley lowered their price objective on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Evercore raised their price target on T. Rowe Price Group from $113.00 to $121.00 in a report on Monday, September 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $105.69.

T. Rowe Price Group Stock Performance

TROW stock traded down $0.57 during midday trading on Wednesday, reaching $103.03. 45,859 shares of the company’s stock traded hands, compared to its average volume of 2,052,817. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $122.00. The firm has a market capitalization of $21.98 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 3.45 and a beta of 1.45. The company has a 50-day moving average price of $109.29 and a two-hundred day moving average price of $105.99.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $2.24 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group will post 10.13 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wealthcare Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC lifted its holdings in shares of T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after purchasing an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after buying an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC boosted its position in T. Rowe Price Group by 3.9% in the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after purchasing an additional 102 shares in the last quarter. 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. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.