T. Rowe Price Group (NASDAQ:TROW) Price Target Increased to $125.00 by Analysts at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by equities research analysts at Morgan Stanley from $114.00 to $125.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 14.97% from the company’s previous close.

Several other brokerages have also commented on TROW. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $112.67.

T. Rowe Price Group Trading Down 2.4 %

NASDAQ TROW opened at $108.72 on Wednesday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76. The business’s 50-day moving average price is $114.67 and its two-hundred day moving average price is $106.71. The firm has a market capitalization of $24.31 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group will post 8.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently made changes to their positions in TROW. OFI Invest Asset Management bought a new stake in T. Rowe Price Group during the third quarter valued at $25,000. Creative Financial Designs Inc. ADV boosted its stake in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares during the period. PCA Investment Advisory Services Inc. bought a new stake in T. Rowe Price Group during the second quarter valued at $26,000. First United Bank & Trust bought a new stake in T. Rowe Price Group during the fourth quarter valued at $31,000. Finally, Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile

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.