T. Rowe Price Group (NASDAQ:TROW) Given New $107.00 Price Target at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by Evercore ISI from $110.00 to $107.00 in a report published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

TROW has been the subject of a number of other research reports. Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an equal weight rating in a report on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an underweight rating in a research note on Friday, February 9th. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a neutral rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an underweight rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an underperform rating to a market perform rating and upped their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of Hold and a consensus price target of $112.10.

T. Rowe Price Group Trading Up 0.3 %

TROW opened at $111.50 on Tuesday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $132.76. The company has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. The company has a 50 day moving average of $115.19 and a 200 day moving average of $107.28.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. Research analysts forecast that T. Rowe Price Group will post 8.75 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock valued at $1,500,133 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently added to or reduced their stakes in the business. WBI Investments LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at about $2,431,000. Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% in the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in T. Rowe Price Group by 8.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 120,760 shares of the asset manager’s stock valued at $14,723,000 after purchasing an additional 9,708 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of T. Rowe Price Group by 11.7% in the first quarter. Mutual Advisors LLC now owns 38,083 shares of the asset manager’s stock worth $4,643,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock worth $2,685,000 after buying an additional 1,880 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.