T. Rowe Price Group (NASDAQ:TROW) PT Raised to $125.00

T. Rowe Price Group (NASDAQ:TROW) had its price target boosted by research analysts at Morgan Stanley from $114.00 to $125.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 14.97% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $108.72 on Wednesday. The stock has a market cap of $24.31 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.16 and a beta of 1.40. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a 50-day simple moving average of $114.67 and a 200-day simple moving average of $106.71.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 EPS. On average, equities research analysts predict that T. Rowe Price Group will post 8.13 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was 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 directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in T. Rowe Price Group during the third quarter worth $25,000. Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in T. Rowe Price Group during the second quarter worth $26,000. First United Bank & Trust bought a new position in T. Rowe Price Group during the fourth quarter worth $31,000. Finally, Park Place Capital Corp lifted its stake in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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.