T. Rowe Price Group (NASDAQ:TROW) PT Raised to $123.00

T. Rowe Price Group (NASDAQ:TROWGet Rating) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $97.00 to $123.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential downside of 0.70% from the company’s current price.

Several other analysts also recently commented on TROW. UBS Group dropped their target price on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. StockNews.com initiated coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, October 31st. Credit Suisse Group initiated coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 19th. They set an “underperform” rating and a $70.00 price target for the company. Finally, BMO Capital Markets decreased their price target on shares of T. Rowe Price Group from $135.00 to $115.00 in a research note on Monday, August 1st. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $114.30.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $123.87 on Tuesday. The company has a market capitalization of $27.68 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 3.43 and a beta of 1.25. The company’s 50 day moving average price is $109.86 and its two-hundred day moving average price is $117.06. T. Rowe Price Group has a 52 week low of $93.53 and a 52 week high of $215.01.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, topping the consensus estimate of $1.83 by $0.03. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. T. Rowe Price Group had a net margin of 29.35% and a return on equity of 23.88%. The business’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period last year, the company posted $3.27 EPS. Analysts forecast that T. Rowe Price Group will post 7.9 earnings per share for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of T. Rowe Price Group stock in a transaction on Friday, November 11th. The shares were sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the transaction, the insider now directly owns 41,000 shares of the company’s stock, valued at $5,090,150. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently modified their holdings of TROW. Dupont Capital Management Corp lifted its holdings in shares of T. Rowe Price Group by 18.8% during the first quarter. Dupont Capital Management Corp now owns 1,265 shares of the asset manager’s stock worth $191,000 after buying an additional 200 shares in the last quarter. McDonald Partners LLC acquired a new stake in shares of T. Rowe Price Group during the first quarter worth $283,000. SG Americas Securities LLC raised its stake in T. Rowe Price Group by 37.3% in the first quarter. SG Americas Securities LLC now owns 14,794 shares of the asset manager’s stock valued at $2,237,000 after purchasing an additional 4,016 shares in the last quarter. Signaturefd LLC raised its stake in T. Rowe Price Group by 29.7% in the first quarter. Signaturefd LLC now owns 4,609 shares of the asset manager’s stock valued at $697,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in T. Rowe Price Group by 114.6% in the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.

T. Rowe Price Group Company Profile

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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.

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