Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

Key Points

• Keefe, Bruyette & Woods has raised its price target for T. Rowe Price Group from $110.00 to $112.00, suggesting a potential upside of 5.89% from the current stock price.
• Despite some analysts upgrading their targets, four analysts have issued a sell rating on the stock while nine have rated it hold.
• In its latest quarterly earnings, T. Rowe Price Group reported earnings per share of $2.24, exceeding estimates by $0.09, though revenue declined by 0.6% year-over-year.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $110.00 to $112.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 5.89% from the company's current price.

Other equities research analysts have also issued reports about the company. Evercore ISI increased their price target on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research report on Monday. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Barclays lifted their price target on T. Rowe Price Group from $90.00 to $91.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $100.73.

T. Rowe Price Group Stock Up 2.6%

T. Rowe Price Group stock traded up $2.71 during trading hours on Monday, hitting $105.77. The stock had a trading volume of 735,132 shares, compared to its average volume of 1,839,972. The company has a market cap of $23.30 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47. The company has a 50-day moving average of $98.38 and a two-hundred day moving average of $98.22. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.84% and a net margin of 28.72%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $2.26 EPS. The company's revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group during the 1st quarter valued at $27,000. Hexagon Capital Partners LLC boosted its position in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at about $39,000. Curio Wealth LLC grew its stake in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager's stock worth $40,000 after purchasing an additional 414 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth about $41,000. Institutional investors and hedge funds 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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