T. Rowe Price Group (NASDAQ:TROW) Upgraded by UBS Group to Neutral

T. Rowe Price Group (NASDAQ:TROW) was upgraded by investment analysts at UBS Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, January 9th, 99wallstreet.com reports. The brokerage currently has a $110.00 target price on the asset manager’s stock, up from their previous target price of $75.00. UBS Group’s price target points to a potential upside of 0.16% from the stock’s current price.

A number of other brokerages also recently weighed in on TROW. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Jefferies Group reiterated a “buy” rating and issued a $104.00 price objective (up previously from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Citigroup upped their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Barclays upped their price target on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Finally, Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price target for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. 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. The stock currently has an average rating of “Hold” and an average price target of $98.70.

Shares of T. Rowe Price Group (TROW) opened at $109.82 on Tuesday. The firm has a market cap of $27,150.00, a price-to-earnings ratio of 18.40, a PEG ratio of 1.45 and a beta of 1.28. T. Rowe Price Group has a 1-year low of $66.70 and a 1-year high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. analysts anticipate that T. Rowe Price Group will post 6.92 EPS for the current fiscal year.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 5,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 91,605 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $103.28, for a total transaction of $9,460,964.40. Following the sale, the vice president now owns 169,816 shares in the company, valued at $17,538,596.48. The disclosure for this sale can be found here. Insiders have sold a total of 204,980 shares of company stock valued at $20,776,729 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Security National Bank of SO Dak raised its holdings in shares of T. Rowe Price Group by 0.7% in the 2nd quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock valued at $884,000 after purchasing an additional 85 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after buying an additional 89 shares during the last quarter. Hall Capital Management Co. Inc. grew its position in shares of T. Rowe Price Group by 1.2% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 10,942 shares of the asset manager’s stock valued at $812,000 after buying an additional 130 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of T. Rowe Price Group by 5.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,535 shares of the asset manager’s stock valued at $188,000 after buying an additional 135 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of T. Rowe Price Group by 2.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 9,118 shares of the asset manager’s stock valued at $677,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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