T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target on T. Rowe Price to $110 from $98 and maintained a "market perform" rating, implying roughly a 6.71% upside from the current price.
• Despite several recent target increases, the analyst consensus remains an average "Reduce" rating with an average price target of $99.54.
• T. Rowe Price recently beat quarterly expectations (EPS $2.52 vs. $2.37; revenue $1.86B, +5.3%), trades near $103 with a P/E of 11.05, and has seen significant institutional buying (institutions own about 73% of the stock).

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target increased by BMO Capital Markets from $98.00 to $110.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a "market perform" rating on the asset manager's stock. BMO Capital Markets' price objective suggests a potential upside of 6.71% from the company's current price.

A number of other equities analysts have also recently commented on the stock. TD Cowen lifted their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a "market perform" rating in a research note on Friday. Bank of America boosted their target price on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Evercore set a $104.00 price target on T. Rowe Price Group in a report on Friday. Finally, Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $99.54.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $103.08 on Monday. The firm has a market capitalization of $22.43 billion, a PE ratio of 11.05, a PEG ratio of 4.53 and a beta of 1.51. The stock's fifty day moving average is $92.87 and its 200 day moving average is $99.19. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping 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 company 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 earnings per share. T. Rowe Price Group's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group will post 9.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock worth $897,880,000 after buying an additional 6,740,172 shares during the period. First Trust Advisors LP increased its stake in shares of T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager's stock valued at $335,894,000 after buying an additional 1,832,231 shares during the period. Norges Bank purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $128,283,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $61,073,000. Finally, Caisse de depot et placement du Quebec lifted its stake in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager's stock worth $134,142,000 after acquiring an additional 584,949 shares during the period. Institutional investors own 73.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.