T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $86.00

T. Rowe Price Group (NASDAQ:TROW) had its price target raised by equities research analysts at Bank of America from $85.00 to $86.00 in a research report issued on Wednesday,MarketScreener reports. Bank of America‘s price target suggests a potential downside of 19.87% from the company’s previous close.

A number of other brokerages also recently issued reports on TROW. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Citigroup upped their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, TD Cowen cut their target price on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a research report on Wednesday. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $107.54.

T. Rowe Price Group Trading Up 1.2%

NASDAQ:TROW traded up $1.24 during trading hours on Wednesday, hitting $107.32. 1,236,431 shares of the company were exchanged, compared to its average volume of 1,893,710. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52. T. Rowe Price Group has a one year low of $77.85 and a one year high of $118.32. The company has a fifty day simple moving average of $103.51 and a 200 day simple moving average of $104.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Equities research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. grew its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the third quarter worth $30,000. Vermillion & White Wealth Management Group LLC grew its stake in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Salomon & Ludwin LLC grew its stake in T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.