T. Rowe Price Group (NASDAQ:TROW) PT Raised to $108.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW – Get Rating) had its price objective boosted by research analysts at Morgan Stanley from $100.00 to $108.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target would suggest a potential downside of 8.33% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com initiated coverage on T. Rowe Price Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $90.00 to $93.00 and gave the company an “underweight” rating in a research note on Tuesday, October 18th. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $84.00 to $96.00 and gave the company a “sell” rating in a research note on Wednesday, November 23rd. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, January 13th. Finally, TheStreet raised T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 6th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $105.50.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $117.81 on Thursday. T. Rowe Price Group has a 52 week low of $93.53 and a 52 week high of $163.49. The stock has a market capitalization of $26.33 billion, a P/E ratio of 13.53, a PEG ratio of 2.44 and a beta of 1.28. The stock’s fifty day moving average is $117.67 and its 200 day moving average is $116.17.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. T. Rowe Price Group had a return on equity of 23.88% and a net margin of 29.35%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business earned $3.27 earnings per share. T. Rowe Price Group’s revenue was down 18.7% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group will post 7.93 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Robert C.T. Higginbotham sold 6,619 shares of the company’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $120.48, for a total transaction of $797,457.12. Following the completion of the sale, the vice president now owns 70,465 shares in the company, valued at $8,489,623.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the sale, the insider now owns 41,000 shares in the company, valued at $5,090,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert C.T. Higginbotham sold 6,619 shares of the company’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $120.48, for a total value of $797,457.12. Following the sale, the vice president now owns 70,465 shares of the company’s stock, valued at approximately $8,489,623.20. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC increased its holdings in shares of T. Rowe Price Group by 1.4% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,785 shares of the asset manager’s stock worth $657,000 after purchasing an additional 82 shares in the last quarter. Artemis Wealth Advisors LLC increased its holdings in shares of T. Rowe Price Group by 39.7% in the 2nd quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock worth $33,000 after purchasing an additional 83 shares in the last quarter. Beacon Financial Group increased its holdings in shares of T. Rowe Price Group by 1.1% in the 2nd quarter. Beacon Financial Group now owns 8,416 shares of the asset manager’s stock worth $1,004,000 after purchasing an additional 91 shares in the last quarter. Lumature Wealth Partners LLC increased its holdings in shares of T. Rowe Price Group by 4.8% in the 3rd quarter. Lumature Wealth Partners LLC now owns 2,101 shares of the asset manager’s stock worth $221,000 after purchasing an additional 96 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in shares of T. Rowe Price Group by 3.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 2,824 shares of the asset manager’s stock worth $297,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 76.58% of the company’s stock.

About T. Rowe Price Group

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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.