T. Rowe Price Group (NASDAQ:TROW) PT Raised to $103.00

T. Rowe Price Group (NASDAQ:TROW) had its price target upped by JPMorgan Chase & Co. from $94.00 to $103.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.53% from the company’s previous close.

Several other research firms have also commented on TROW. Morgan Stanley upped their target price on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, January 19th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $110.56.

T. Rowe Price Group Stock Down 0.6 %

T. Rowe Price Group stock opened at $111.39 on Tuesday. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.20 and a beta of 1.40. The stock has a 50-day moving average price of $114.67 and a 200 day moving average price of $106.69.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 earnings per share. Research analysts anticipate that T. Rowe Price Group will post 8.13 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in T. Rowe Price Group during the 4th quarter valued at $208,014,000. Confluence Investment Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at $130,386,000. International Assets Investment Management LLC boosted its position in T. Rowe Price Group by 8,968.6% during the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after buying an additional 892,198 shares during the period. UBS Group AG boosted its position in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares during the period. Finally, Vanguard Group Inc. boosted its position in T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after buying an additional 625,340 shares during the period. 73.39% of the stock is currently owned by hedge funds and other 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.