T. Rowe Price Group (NASDAQ:TROW) PT Raised to $125.00

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by Morgan Stanley from $114.00 to $125.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target would suggest a potential upside of 12.22% from the company’s current price.

Several other analysts have also commented on TROW. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Citigroup lifted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Price Performance

Shares of TROW opened at $111.39 on Wednesday. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76. The company has a 50-day simple moving average of $114.67 and a two-hundred day simple moving average of $106.69. The firm has a market capitalization of $24.91 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $1.74 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts expect that T. Rowe Price Group will post 8.13 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. bought a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its stake in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $25,000. First United Bank & Trust purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Finally, Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares in the last quarter. Institutional investors own 73.39% 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.