Keefe, Bruyette & Woods Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

Key Points

• Keefe, Bruyette & Woods has increased its price target for T. Rowe Price Group shares from $112.00 to $115.00, suggesting an upside potential of 8.94%.
• Multiple analysts have varying ratings on the stock, with one “Buy” rating, eleven “Hold,” and four “Sell” ratings reported.
• T. Rowe Price Group's most recent earnings report showed an EPS of $2.24, which exceeded expectations by $0.09.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target boosted by Keefe, Bruyette & Woods from $112.00 to $115.00 in a report released on Monday,Benzinga reports. The firm presently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 8.94% from the company's previous close.

Other equities analysts have also issued research reports about the company. Bank of America upped their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research note on Monday, October 6th. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a "sell" rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $106.38.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $4.13 during trading hours on Monday, hitting $105.56. 753,032 shares of the stock were exchanged, compared to its average volume of 1,738,204. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50. The stock's 50-day moving average price is $105.82 and its two-hundred day moving average price is $98.49.

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

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. raised its position in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager's stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $27,000. Vermillion & White Wealth Management Group LLC raised its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager's stock worth $31,000 after acquiring an additional 174 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 73.39% of the company's stock.

About T. Rowe Price Group

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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