T. Rowe Price Group (NASDAQ:TROW) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded T. Rowe Price Group from hold to strong-buy, giving the stock a more bullish near-term analyst signal.
• Despite that upgrade, the broader analyst view remains cautious: MarketBeat says TROW has a consensus rating of “Reduce” and an average price target of $103.42, below the recent trading price.
• The company recently beat quarterly expectations, reporting $2.52 EPS on $1.86 billion in revenue, while shares traded near $118.87, close to the stock’s 12-month high of $121.17.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

TROW has been the topic of several other research reports. Weiss Ratings upgraded shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research report on Tuesday, June 30th. BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a "market perform" rating in a research note on Monday, May 4th. Jefferies Financial Group dropped their target price on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $107.00 to $120.00 and gave the company a "market perform" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $103.42.

T. Rowe Price Group Trading Up 0.2%

T. Rowe Price Group stock opened at $118.87 on Wednesday. The firm has a market cap of $25.47 billion, a PE ratio of 12.74, a P/E/G ratio of 4.27 and a beta of 1.47. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $121.17. The stock's 50 day simple moving average is $108.61 and its two-hundred day simple moving average is $101.21.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $2.23 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group will post 10.07 EPS for the current year.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TROW. Woodline Partners LP raised its holdings in shares of T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock valued at $1,728,000 after acquiring an additional 5,467 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock worth $1,199,000 after acquiring an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock worth $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. raised its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock valued at $3,208,000 after purchasing an additional 1,703 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Key Stories Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price was added to multiple Zacks #1 (Strong Buy) lists on July 16, including momentum, value, and income screens, which can support bullish sentiment around the stock. Article Title
• Positive Sentiment: The company introduced an actively managed spot multi-token crypto ETF, signaling product innovation and a possible new growth avenue for assets and fee revenue. Article Title
• Positive Sentiment: Additional Zacks coverage also labeled TROW a strong buy for value and income investors, reinforcing the view that the shares may be attractively priced relative to fundamentals. Article Title
• Neutral Sentiment: Analysts and commentary continue to debate valuation after the AdvanCell deal, suggesting investors are still assessing whether the stock is fully valued at current levels. Article Title
• Negative Sentiment: Barclays reiterated a sell rating on T. Rowe Price, and recent commentary highlighted Q2 net outflows, which remain a concern for long-term asset growth and fee pressure. Article Title

About T. Rowe Price Group

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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