T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $120.00 at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $107.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 2.52% from the company’s current price.

A number of other research analysts have also commented on the stock. Evercore upped their price objective on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. TD Cowen boosted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. BMO Capital Markets increased their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $101.54.

T. Rowe Price Group Stock Performance

TROW opened at $117.05 on Friday. The business has a 50 day moving average price of $107.24 and a 200 day moving average price of $100.76. T. Rowe Price Group has a twelve month low of $85.22 and a twelve month high of $121.17. The firm has a market cap of $25.08 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 5.99 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 EPS. As a group, analysts anticipate that T. Rowe Price Group will post 9.69 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was 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 directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in TROW. Robeco Institutional Asset Management B.V. increased its holdings in 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of T. Rowe Price Group by 43.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after buying an additional 95,351 shares in the last quarter. LBP AM SA increased its holdings in T. Rowe Price Group by 23.9% during the fourth quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after buying an additional 30,226 shares during the last quarter. SVB Wealth LLC increased its stake in shares of T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after purchasing an additional 16,155 shares during the last quarter. Finally, Chilton Investment Co. Inc. bought a new stake in T. Rowe Price Group in the third quarter valued at approximately $11,010,000. 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.