T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $114.00

Key Points

• T. Rowe Price Group's target price has been raised by Deutsche Bank from $109.00 to $114.00, indicating a potential upside of 7.72% from the stock's previous close.
• Other analysts have varied opinions, with Morgan Stanley increasing their target to $125.00, while Barclays maintains an "underweight" rating with a target of $95.00.
• The stock currently has a consensus rating of "Reduce" with an average price target of $104.69, reflecting mixed sentiment among analysts.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $109.00 to $114.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a "hold" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 7.72% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research report on Monday. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price target on the stock. Bank of America upped their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a report on Thursday, October 2nd. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 in a report on Thursday. Finally, Barclays restated an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $104.69.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $0.01 during trading on Thursday, hitting $105.83. The company's stock had a trading volume of 65,158 shares, compared to its average volume of 1,734,927. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The stock has a 50-day moving average price of $105.76 and a two-hundred day moving average price of $98.32.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data 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 net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. T. Rowe Price Group's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its position in shares of T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares during the period. Wealthfront Advisers LLC boosted its holdings in T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after buying an additional 36,190 shares during the period. Mather Group LLC. boosted its holdings in T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after buying an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after buying an additional 24,323 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in T. Rowe Price Group by 22.9% in the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock worth $28,373,000 after buying an additional 57,503 shares during the period. 73.39% of the stock is owned by institutional investors.

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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