Morgan Stanley Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $95.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective boosted by equities researchers at Morgan Stanley from $94.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the asset manager's stock. Morgan Stanley's target price points to a potential upside of 4.42% from the company's current price.

Several other brokerages have also recently issued reports on TROW. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday. Evercore ISI cut their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Citigroup lowered their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Stock Down 0.5 %

Shares of T. Rowe Price Group stock traded down $0.46 during trading on Tuesday, reaching $90.98. The company's stock had a trading volume of 523,386 shares, compared to its average volume of 1,468,726. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50-day simple moving average of $91.55 and a two-hundred day simple moving average of $106.79. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.38 earnings per share. As a group, analysts anticipate 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 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of TROW. Glenview Trust co raised its position in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC grew its stake in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock valued at $704,000 after buying an additional 93 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares during the period. Brooklyn Investment Group lifted its position in T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after acquiring an additional 98 shares in the last quarter. Finally, Advantage Trust Co boosted its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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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