T. Rowe Price Group (NASDAQ:TROW) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• T. Rowe Price Group has received a reaffirmed "hold (C)" rating from Weiss Ratings, reflecting cautious optimism among analysts.
• Multiple analysts have adjusted their price targets for T. Rowe Price Group, with Bank of America setting a new target at $97.00, while Evercore ISI raised theirs to $118.00.
• Insider activity indicates a decline in ownership for Director Robert F. Maclellan, who sold 3,090 shares recently, representing a 6.13% reduction in his stake.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other analysts have also issued reports on the company. Bank of America upped their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a report on Thursday, October 2nd. Evercore ISI upped their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the company an "in-line" rating in a research note on Thursday, October 9th. TD Cowen upped their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $109.00 to $114.00 and gave the company a "hold" rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $107.54.

T. Rowe Price Group Stock Performance

TROW stock traded up $1.06 during midday trading on Friday, hitting $103.55. 1,054,021 shares of the company's stock were exchanged, compared to its average volume of 1,487,562. The stock's fifty day moving average price is $105.34 and its 200-day moving average price is $99.48. The company has a market cap of $22.75 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.62 and a beta of 1.50. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81.

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

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in TROW. TD Waterhouse Canada Inc. grew its position in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager's stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC grew its position in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager's stock worth $33,000 after buying an additional 145 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew 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 worth $34,000 after buying an additional 113 shares in the last quarter. 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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