T. Rowe Price Group (NASDAQ:TROW) PT Raised to $127.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target upped by equities research analysts at Morgan Stanley from $125.00 to $127.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Morgan Stanley's target price would suggest a potential upside of 9.83% from the company's current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 23rd. Barclays lifted their target price on T. Rowe Price Group from $99.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus target price of $113.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $2.42 during midday trading on Friday, hitting $115.63. The company had a trading volume of 1,749,548 shares, compared to its average volume of 1,254,308. T. Rowe Price Group has a twelve month low of $87.43 and a twelve month high of $122.27. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. The business's 50-day simple moving average is $107.33 and its 200-day simple moving average is $112.09.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group will post 9.04 EPS for the current year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, 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 value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company's stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company's stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. This trade represents 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 currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock valued at $185,810,000 after purchasing an additional 220,105 shares during the period. AQR Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after buying an additional 196,565 shares during the period. Burney Co. acquired a new position in T. Rowe Price Group during the second quarter worth $20,938,000. Canada Pension Plan Investment Board increased its holdings in shares of T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager's stock valued at $18,681,000 after purchasing an additional 150,665 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $15,907,000. Institutional investors and hedge funds 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.