T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Citigroup Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by analysts at Citigroup from $105.00 to $107.00 in a note issued to investors on Monday,MarketScreener reports. Citigroup’s target price would indicate a potential upside of 5.66% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Bank of America upped their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Stock Down 0.4%

Shares of NASDAQ:TROW opened at $101.27 on Monday. The firm has a market capitalization of $22.25 billion, a PE ratio of 11.32, a P/E/G ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a 50-day moving average price of $104.81 and a two-hundred day moving average price of $100.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $2.57 earnings per share. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealthfront Advisers LLC grew its stake in T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after buying an additional 36,190 shares during the last quarter. Alps Advisors Inc. boosted its stake in T. Rowe Price Group by 22.9% in the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock worth $28,373,000 after purchasing an additional 57,503 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in T. Rowe Price Group by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,716,724 shares of the asset manager’s stock worth $157,715,000 after purchasing an additional 26,395 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in T. Rowe Price Group by 74.1% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager’s stock worth $1,829,000 after purchasing an additional 8,473 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in T. Rowe Price Group by 74.6% in the 1st quarter. Cerity Partners LLC now owns 127,758 shares of the asset manager’s stock worth $11,737,000 after purchasing an additional 54,584 shares in the last quarter. 73.39% of the stock is owned by 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.