T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $125.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective boosted by analysts at Morgan Stanley from $114.00 to $125.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Morgan Stanley's price target indicates a potential upside of 14.97% from the company's current price.

Other research analysts also recently issued research reports about the stock. TD Cowen upgraded shares of T. Rowe Price Group from a "sell" rating to a "hold" rating and lifted their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a research note on Tuesday. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $112.67.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $2.67 during trading on Wednesday, reaching $108.72. The company's stock had a trading volume of 2,484,741 shares, compared to its average volume of 1,408,567. The company has a market capitalization of $24.31 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 2.16 and a beta of 1.40. The stock's 50-day moving average price is $114.67 and its 200 day moving average price is $106.71. T. Rowe Price Group has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the previous year, the business posted $1.74 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group will post 8.13 EPS for the current fiscal year.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of TROW. Fairfield Bush & CO. acquired a new position in T. Rowe Price Group in the 1st quarter valued at $150,000. Roundview Capital LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth $2,092,000. Cibc World Market Inc. grew its stake in shares of T. Rowe Price Group by 75.9% during the 1st quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager's stock worth $4,092,000 after purchasing an additional 11,675 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of T. Rowe Price Group by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager's stock worth $175,099,000 after purchasing an additional 60,580 shares during the period. Finally, Prudential PLC grew its stake in shares of T. Rowe Price Group by 47.1% during the 1st quarter. Prudential PLC now owns 12,117 shares of the asset manager's stock worth $1,832,000 after purchasing an additional 3,880 shares during the period. 73.39% of the stock is 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.