T. Rowe Price Group (NASDAQ:TROW) PT Raised to $112.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price objective upped by investment analysts at Wells Fargo & Company from $109.00 to $112.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective suggests a potential upside of 4.26% from the company's previous close.

TROW has been the topic of a number of other research reports. Evercore ISI raised their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the company an "in-line" rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research report on Thursday, October 3rd. Barclays assumed coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $99.00 target price for the company. Finally, StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $112.64.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $0.82 during trading on Wednesday, reaching $107.42. 1,292,918 shares of the company's stock traded hands, compared to its average volume of 1,254,220. The company's 50 day simple moving average is $106.92 and its two-hundred day simple moving average is $112.49. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. Research analysts expect that T. Rowe Price Group will post 8.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elo Mutual Pension Insurance Co grew its position in shares of T. Rowe Price Group by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,582 shares of the asset manager's stock valued at $2,109,000 after purchasing an additional 833 shares during the period. Nebula Research & Development LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $807,000. Studio Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 19.9% during the fourth quarter. Studio Investment Management LLC now owns 16,772 shares of the asset manager's stock valued at $1,806,000 after acquiring an additional 2,778 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of T. Rowe Price Group by 31.5% in the fourth quarter. V Square Quantitative Management LLC now owns 4,142 shares of the asset manager's stock valued at $446,000 after acquiring an additional 992 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

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.