T. Rowe Price Group (NASDAQ:TROW) had its target price lifted by Credit Suisse Group from $135.00 to $147.00 in a report issued on Thursday morning, The Fly reports.
A number of other research firms have also recently commented on TROW. BMO Capital Markets lifted their price target on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a market perform rating in a report on Monday, June 29th. UBS Group dropped their price objective on shares of T. Rowe Price Group from $137.00 to $100.00 and set a neutral rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Co lifted their target price on shares of T. Rowe Price Group from $115.00 to $125.00 in a report on Wednesday, April 29th. Deutsche Bank increased their price target on shares of T. Rowe Price Group from $139.00 to $149.00 and gave the company a hold rating in a report on Thursday. Finally, Morgan Stanley boosted their price objective on T. Rowe Price Group from $142.00 to $150.00 and gave the stock an equal weight rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $116.17.
Shares of T. Rowe Price Group stock opened at $138.10 on Thursday. The stock has a market cap of $31.42 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.30 and a beta of 1.15. The company has a quick ratio of 4.55, a current ratio of 3.24 and a debt-to-equity ratio of 0.02. T. Rowe Price Group has a 12-month low of $82.51 and a 12-month high of $139.82. The business’s 50 day moving average is $127.11 and its 200-day moving average is $119.76.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.25. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group will post 8.3 EPS for the current year.
In related news, Director Mary K. Bush sold 1,851 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total value of $213,494.34. Following the transaction, the director now owns 15,955 shares in the company, valued at $1,840,249.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Oestreicher sold 3,500 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $120.85, for a total value of $422,975.00. Following the completion of the transaction, the vice president now directly owns 97,673 shares of the company’s stock, valued at approximately $11,803,782.05. The disclosure for this sale can be found here. Insiders have sold 8,851 shares of company stock worth $1,047,719 in the last three months. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Sawgrass Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 1.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 5,828 shares of the asset manager’s stock worth $720,000 after acquiring an additional 80 shares during the period. Nicolet Bankshares Inc. raised its stake in T. Rowe Price Group by 2.3% during the second quarter. Nicolet Bankshares Inc. now owns 4,363 shares of the asset manager’s stock worth $539,000 after acquiring an additional 100 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of T. Rowe Price Group by 36.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after acquiring an additional 106 shares during the last quarter. GW Henssler & Associates Ltd. boosted its stake in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 3,225 shares of the asset manager’s stock valued at $398,000 after purchasing an additional 106 shares in the last quarter. Finally, National Asset Management Inc. grew its holdings in shares of T. Rowe Price Group by 4.0% during the 1st quarter. National Asset Management Inc. now owns 2,863 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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