T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $95.00 at Morgan Stanley

by · The Cerbat Gem

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) had its price objective raised by equities research analysts at Morgan Stanley from $94.00 to $95.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target indicates a potential upside of 4.42% from the company’s previous close.

Other research analysts have also issued reports about the stock. Barclays lifted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Monday. Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $94.09.

Read Our Latest Research Report on TROW

T. Rowe Price Group Stock Down 0.5 %

Shares of TROW traded down $0.46 during trading on Tuesday, reaching $90.98. The company’s stock had a trading volume of 523,386 shares, compared to its average volume of 1,468,726. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 2.86 and a beta of 1.50. The company has a fifty day moving average of $91.55 and a two-hundred day moving average of $106.79.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $2.38 EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently made changes to their positions in the stock. Glenview Trust co increased its holdings in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after buying an additional 92 shares during the last quarter. MCF Advisors LLC increased its stake in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 98 shares during the last quarter. Finally, Advantage Trust Co boosted its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

(Get Free Report)

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.

See Also