T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $108.00

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by TD Cowen from $107.00 to $108.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

TROW has been the topic of several other research reports. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Jefferies Financial Group dropped their price objective on shares of 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. BMO Capital Markets upped their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday. The Goldman Sachs Group raised their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $105.92.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $114.98 on Monday. The stock’s fifty day moving average price is $112.42 and its 200 day moving average price is $102.30. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $122.00. The company has a market cap of $24.53 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group will post 10.12 earnings per share for the current year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. raised its position in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after purchasing an additional 11,691 shares during the last quarter. LBP AM SA lifted its stake in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock valued at $16,061,000 after buying an additional 30,226 shares in the last quarter. SVB Wealth LLC boosted its holdings in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after buying an additional 16,155 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in T. Rowe Price Group by 1,680.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after buying an additional 16,720 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock worth $54,489,000 after buying an additional 18,952 shares in the last quarter. Institutional investors and hedge funds 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.