T. Rowe Price Group’s (TROW) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW)‘s stock had its “market perform” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $115.00 target price on the asset manager’s stock, down from their prior target price of $120.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 2.17% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday. Barclays lowered their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $105.92.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.80 on Monday, reaching $112.55. 1,382,925 shares of the company were exchanged, compared to its average volume of 2,231,504. The company’s 50-day moving average is $111.77 and its two-hundred day moving average is $102.11. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 4.01 and a beta of 1.47. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group will post 10.11 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents 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 corporate insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of T. Rowe Price Group by 0.3% during the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares during the period. Goldman Sachs Group Inc. grew its position in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares in the last quarter. First Trust Advisors LP raised its stake in T. Rowe Price Group by 12.6% during the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after purchasing an additional 413,317 shares during the period. Finally, Invesco Ltd. raised its stake in T. Rowe Price Group by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the period. Institutional investors and hedge funds 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.