T. Rowe Price Group (NASDAQ:TROW) Given New $115.00 Price Target at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by stock analysts at Barclays from $110.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target would suggest a potential downside of 7.13% from the stock’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $116.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.86 during trading on Monday, reaching $123.83. 1,093,051 shares of the company were exchanged, compared to its average volume of 1,255,605. The business’s fifty day simple moving average is $115.26 and its 200-day simple moving average is $113.06. T. Rowe Price Group has a 12-month low of $97.50 and a 12-month high of $125.81. The firm has a market capitalization of $27.51 billion, a PE ratio of 13.55, a P/E/G ratio of 1.75 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the period. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after purchasing an additional 25,481 shares during the period. Victory Capital Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after purchasing an additional 107,086 shares during the period. Finally, Provident Trust Co. boosted its holdings in T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares in the last quarter. Hedge funds and other 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.