T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $108.00 at TD Cowen

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by investment analysts at TD Cowen from $107.00 to $108.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target indicates a potential downside of 3.88% from the company’s current price.

Several other research analysts have also recently issued reports on TROW. Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, July 10th. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research report on Wednesday. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research report on Friday, July 10th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $106.33.

T. Rowe Price Group Trading Up 0.5%

Shares of TROW stock traded up $0.61 during trading hours on Monday, reaching $112.36. 1,323,442 shares of the stock were exchanged, compared to its average volume of 2,231,185. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $122.00. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 4.01 and a beta of 1.47. The company’s 50-day moving average price is $111.77 and its 200-day moving average price is $102.11.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.45%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group will post 10.11 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of TROW. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Sound Income Strategies LLC increased its holdings in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, DV Equities LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $32,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.