JPMorgan Chase & Co. Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $98.00

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by analysts at JPMorgan Chase & Co. from $90.00 to $98.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.90% from the company’s previous close.

Several other equities analysts have also weighed in on TROW. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. TD Cowen lowered their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley raised their target price on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $96.64.

T. Rowe Price Group Trading Up 3.3%

TROW opened at $106.41 on Wednesday. The company’s fifty day moving average price is $96.37 and its two-hundred day moving average price is $98.97. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $23.44 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 3.09 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares of the company’s stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. 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

Several large investors have recently modified their holdings of the stock. Strategy Asset Managers LLC raised its position in T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock worth $258,000 after buying an additional 108 shares during the last quarter. Cooper Financial Group grew its stake in shares of T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the period. Associated Banc Corp lifted its holdings in T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after purchasing an additional 114 shares in the last quarter. Finally, Dakota Wealth Management lifted its holdings in T. Rowe Price Group by 4.7% in the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock worth $245,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.