T. Rowe Price Group, Inc. (NASDAQ:TROW) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also commented on TROW. UBS AG reissued a “sell” rating and set a $63.00 price target (up from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. BidaskClub lowered T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Tuesday, September 26th. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Finally, ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $83.45.

Shares of T. Rowe Price Group (TROW) traded up 0.58% during midday trading on Thursday, hitting $91.94. 123,917 shares of the company’s stock traded hands. T. Rowe Price Group has a 52 week low of $62.97 and a 52 week high of $92.38. The stock has a market cap of $22.10 billion, a P/E ratio of 15.79 and a beta of 1.25. The company has a 50 day moving average of $85.17 and a 200 day moving average of $76.78.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, equities analysts forecast that T. Rowe Price Group will post $5.68 EPS for the current fiscal year.

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In related news, CFO Kenneth V. Moreland sold 13,041 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $90.43, for a total value of $1,179,297.63. Following the completion of the sale, the chief financial officer now directly owns 135,028 shares of the company’s stock, valued at approximately $12,210,582.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Oestreicher sold 10,394 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the sale, the insider now directly owns 82,299 shares of the company’s stock, valued at $6,836,577.93. The disclosure for this sale can be found here. Insiders sold a total of 36,924 shares of company stock valued at $3,187,333 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock worth $1,230,159,000 after acquiring an additional 282,162 shares in the last quarter. BlackRock Inc. lifted its stake in T. Rowe Price Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock worth $1,220,017,000 after acquiring an additional 61,269 shares in the last quarter. State Street Corp lifted its stake in T. Rowe Price Group by 1.9% in the 2nd quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock worth $1,076,913,000 after acquiring an additional 273,036 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in T. Rowe Price Group by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock worth $872,439,000 after acquiring an additional 156,326 shares in the last quarter. Finally, Capital World Investors lifted its stake in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock worth $780,113,000 after acquiring an additional 7,373,953 shares in the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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