T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised its target price for T. Rowe Price Group from $115 to $118, indicating a potential upside of 11.5% from its current trading price.
• Multiple analysts have varying ratings on the stock, with two analysts rating it as a Buy, ten as Hold, and four as Sell; the consensus target price stands at $104.69.
• T. Rowe Price Group reported a quarterly earnings per share (EPS) of $2.24, surpassing expectations and highlighting a year-over-year revenue decline of 0.6%.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price hoisted by Evercore ISI from $115.00 to $118.00 in a research note issued on Thursday,MarketScreener reports. Evercore ISI's target price points to a potential upside of 11.50% from the company's current price.

Several other analysts have also recently commented on the company. BMO Capital Markets started coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 target price on the stock. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Keefe, Bruyette & Woods raised their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Reduce" and a consensus target price of $104.69.

T. Rowe Price Group Trading Up 0.0%

TROW stock traded up $0.01 during trading on Thursday, hitting $105.83. The company had a trading volume of 65,158 shares, compared to its average volume of 1,734,927. The company has a fifty day moving average price of $105.76 and a two-hundred day moving average price of $98.32. The company has a market cap of $23.25 billion, a P/E ratio of 11.85, a P/E/G ratio of 6.82 and a beta of 1.50. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 EPS. On average, analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. Wedmont Private Capital increased its position in shares of T. Rowe Price Group by 6.1% during the 3rd quarter. Wedmont Private Capital now owns 2,366 shares of the asset manager's stock worth $250,000 after purchasing an additional 137 shares during the last quarter. Czech National Bank increased its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Czech National Bank now owns 55,804 shares of the asset manager's stock worth $5,728,000 after purchasing an additional 1,951 shares during the last quarter. Wynn Capital LLC boosted its stake in shares of T. Rowe Price Group by 2.7% during the 3rd quarter. Wynn Capital LLC now owns 5,241 shares of the asset manager's stock worth $538,000 after acquiring an additional 136 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of T. Rowe Price Group by 2.5% during the 3rd quarter. ST Germain D J Co. Inc. now owns 42,712 shares of the asset manager's stock worth $4,384,000 after acquiring an additional 1,023 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of T. Rowe Price Group by 2,687.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 217,417 shares of the asset manager's stock worth $22,316,000 after acquiring an additional 209,616 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Company Profile

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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