T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $104.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective raised by research analysts at Morgan Stanley from $95.00 to $104.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Morgan Stanley's price target suggests a potential upside of 4.12% from the stock's previous close.

TROW has been the topic of a number of other reports. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Bank of America lowered their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Citigroup dropped their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $94.91.

T. Rowe Price Group Price Performance

TROW traded up $1.22 on Wednesday, hitting $99.89. The company had a trading volume of 285,519 shares, compared to its average volume of 1,843,363. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 3.13 and a beta of 1.49. The company's fifty day moving average price is $93.54 and its 200 day moving average price is $100.07. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in TROW. Norges Bank acquired a new position in T. Rowe Price Group in the fourth quarter valued at about $117,704,000. Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $63,284,000. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. Finally, Fayez Sarofim & Co grew its position in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares during the last quarter. Institutional investors 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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