T. Rowe Price Group (NASDAQ:TROW) Given Market Perform Rating at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods reiterated a “Market Perform” rating on T. Rowe Price Group and lowered its price target from $120 to $115, implying approximately 2.17% upside.
• Analyst sentiment remains cautious: MarketBeat reports a consensus rating of “Reduce”, with one Strong Buy, nine Holds and four Sells, and an average price target of $105.92.
• T. Rowe Price’s latest quarterly results exceeded expectations, with EPS of $2.57 versus $2.52 expected and revenue of $1.91 billion; revenue increased 10.7% year over year.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Monday,Benzinga reports. They presently have a $115.00 price objective on the asset manager's stock, down from their prior price objective of $120.00. Keefe, Bruyette & Woods' target price would indicate a potential upside of 2.17% from the stock's previous close.

A number of other brokerages also recently issued reports on TROW. TD Cowen upped their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the company a "hold" rating in a report on Monday. Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. Barclays cut their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, April 24th. Finally, The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $105.92.

T. Rowe Price Group Stock Up 0.7%

Shares of NASDAQ TROW traded up $0.80 during midday trading on Monday, hitting $112.55. The stock had a trading volume of 1,382,925 shares, compared to its average volume of 2,231,504. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00. The stock has a 50 day simple moving average of $111.77 and a 200-day simple moving average of $102.11. The company has a market capitalization of $24.12 billion, a PE ratio of 11.29, a P/E/G ratio of 4.01 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 EPS. As a group, analysts expect that T. Rowe Price Group will post 10.11 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its position in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth about $31,000. Sound Income Strategies LLC increased its holdings in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at about $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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