T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price raised by Evercore ISI from $106.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "in-line" rating on the asset manager's stock. Evercore ISI's price target suggests a potential upside of 4.28% from the stock's previous close.
TROW has been the subject of a number of other research reports. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Citigroup lowered their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $100.45.
Read Our Latest Report on T. Rowe Price Group
T. Rowe Price Group Stock Up 2.4%
Shares of T. Rowe Price Group stock traded up $2.43 on Monday, reaching $105.49. 508,021 shares of the stock were exchanged, compared to its average volume of 1,838,196. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The business has a 50 day moving average price of $98.38 and a two-hundred day moving average price of $98.22. The firm has a market capitalization of $23.24 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 3.03 and a beta of 1.47.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.84%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 earnings per share. Research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.
Insider Buying and Selling at T. Rowe Price Group
In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
Institutional Trading of T. Rowe Price Group
Several hedge funds have recently bought and sold shares of the stock. TFG Advisers LLC raised its position in T. Rowe Price Group by 3.6% during the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager's stock valued at $268,000 after acquiring an additional 97 shares in the last quarter. Bill Few Associates Inc. raised its stake in T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager's stock worth $249,000 after purchasing an additional 107 shares during the period. Cooper Financial Group lifted its position in T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the period. Finally, Associated Banc Corp increased its stake in T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.
T. Rowe Price Group Company Profile
(
Get Free Report)
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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