Bank of America upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a neutral rating to a buy rating in a research note published on Monday, January 8th, Marketbeat reports. They currently have $125.00 price objective on the asset manager’s stock, up from their prior price objective of $113.00.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded T. Rowe Price Group from a buy rating to a hold rating and set a $115.00 price target for the company. in a report on Friday, January 5th. UBS Group boosted their price target on T. Rowe Price Group from $69.00 to $72.00 and gave the company a sell rating in a report on Friday, October 27th. Morgan Stanley upgraded T. Rowe Price Group from an underweight rating to an equal rating and boosted their price objective for the company from $77.00 to $93.00 in a research report on Thursday, October 5th. Goldman Sachs Group upgraded T. Rowe Price Group from a neutral rating to a buy rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, September 28th. Finally, Barclays boosted their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the company an underweight rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. T. Rowe Price Group currently has an average rating of Hold and a consensus target price of $98.70.
T. Rowe Price Group (NASDAQ:TROW) opened at $111.81 on Monday. The firm has a market capitalization of $27,262.30, a PE ratio of 18.70, a PEG ratio of 1.51 and a beta of 1.32. T. Rowe Price Group has a 52 week low of $65.33 and a 52 week high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up 17.9% on a year-over-year basis. research analysts predict that T. Rowe Price Group will post 6.7 EPS for the current year.
In related news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total transaction of $839,831.92. Following the transaction, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D. Alderson sold 91,605 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $103.28, for a total value of $9,460,964.40. Following the transaction, the vice president now directly owns 169,816 shares in the company, valued at $17,538,596.48. The disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock worth $20,776,729 in the last three months. Company insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TROW. Signature Estate & Investment Advisors LLC purchased a new position in T. Rowe Price Group in the third quarter valued at about $118,000. Grove Bank & Trust grew its stake in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 840 shares in the last quarter. Quadrant Capital Group LLC grew its stake in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after purchasing an additional 89 shares in the last quarter. Sun Life Financial INC grew its stake in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 1,755 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in T. Rowe Price Group in the second quarter valued at about $152,000. Hedge funds and other institutional investors own 72.48% of the company’s stock.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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