T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by analysts at Morgan Stanley from $115.00 to $112.00 in a research report issued on Tuesday. The brokerage currently has a “hold” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 3.40% from the company’s previous close.

TROW has been the topic of several other reports. Bank of America raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $113.00 to $125.00 in a report on Monday, January 8th. Barclays raised their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the company an “underweight” rating in a report on Friday, October 27th. UBS Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their target price for the company from $75.00 to $110.00 in a report on Tuesday, January 9th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Wednesday, December 27th. Finally, ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $100.60.

T. Rowe Price Group (NASDAQ TROW) traded up $2.59 during mid-day trading on Tuesday, reaching $108.32. 1,280,000 shares of the company’s stock traded hands, compared to its average volume of 1,920,000. T. Rowe Price Group has a 52-week low of $66.70 and a 52-week high of $120.07. The company has a market cap of $26,250.00, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.23 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.48 by $0.04. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. analysts anticipate that T. Rowe Price Group will post 7.12 earnings per share for the current fiscal year.

In other news, CEO William J. Stromberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the sale, the chief executive officer now directly owns 534,077 shares in the company, valued at approximately $51,853,535.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D. Alderson sold 91,605 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $103.28, for a total transaction of $9,460,964.40. Following the completion of the sale, the vice president now owns 169,816 shares in the company, valued at $17,538,596.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,980 shares of company stock worth $20,776,729. 3.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of T. Rowe Price Group by 50.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after purchasing an additional 491 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in T. Rowe Price Group by 30.9% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock worth $220,000 after buying an additional 496 shares during the period. Covenant Asset Management LLC boosted its position in T. Rowe Price Group by 10.0% during the 4th quarter. Covenant Asset Management LLC now owns 5,485 shares of the asset manager’s stock worth $576,000 after buying an additional 500 shares during the period. Nippon Life Insurance Co. boosted its position in T. Rowe Price Group by 2.9% during the 3rd quarter. Nippon Life Insurance Co. now owns 18,906 shares of the asset manager’s stock worth $1,714,000 after buying an additional 540 shares during the period. Finally, Ffcm LLC boosted its position in T. Rowe Price Group by 1.4% during the 3rd quarter. Ffcm LLC now owns 38,205 shares of the asset manager’s stock worth $3,463,000 after buying an additional 545 shares during the period. Institutional investors own 71.89% of the company’s stock.

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T. Rowe Price Group Company Profile

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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