Jefferies Financial Group Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

Key Points

• Jefferies Financial Group raised its target price for T. Rowe Price Group from $104.00 to $106.00, maintaining a "hold" rating, which suggests a slight downside risk from the current stock price.
• Morgan Stanley's revised target price for T. Rowe Price is now $125.00 with a "positive" rating, indicating favorable outlook compared to other analysts' more conservative projections.
• In the latest quarter, T. Rowe Price reported earnings of $2.24 per share, exceeding expectations, despite a 0.6% decline in year-over-year revenue.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price upped by analysts at Jefferies Financial Group from $104.00 to $106.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a "hold" rating on the asset manager's stock. Jefferies Financial Group's price objective suggests a potential downside of 0.08% from the company's current price.

Several other equities research analysts also recently weighed in on TROW. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research report on Monday. BMO Capital Markets assumed coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 target price for the company. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $104.92.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $106.09 on Tuesday. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 6.84 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The business has a 50-day moving average of $105.72 and a 200-day moving average of $98.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business earned $2.26 EPS. The business's revenue was down .6% on a year-over-year basis. Research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.60% of the company's stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its stake in T. Rowe Price Group by 16.5% during the first quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager's stock valued at $448,000 after acquiring an additional 691 shares during the period. Daymark Wealth Partners LLC increased its position in shares of T. Rowe Price Group by 2.6% during the first quarter. Daymark Wealth Partners LLC now owns 6,823 shares of the asset manager's stock valued at $627,000 after purchasing an additional 171 shares during the period. Farther Finance Advisors LLC raised its stake in shares of T. Rowe Price Group by 75.8% in the first quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager's stock valued at $733,000 after purchasing an additional 3,427 shares in the last quarter. GAMMA Investing LLC lifted its position in T. Rowe Price Group by 5.1% in the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager's stock worth $333,000 after purchasing an additional 176 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in T. Rowe Price Group by 4.8% in the 1st quarter. Handelsbanken Fonder AB now owns 49,745 shares of the asset manager's stock valued at $4,570,000 after buying an additional 2,297 shares during the period. 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.

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