T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $115.00

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $113.00 to $115.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 2.23% from the company's current price.

Several other analysts have also issued reports on the stock. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Evercore ISI increased their price objective on shares of 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. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an "equal weight" rating in a research report on Monday. The Goldman Sachs Group dropped 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 research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $114.73.

T. Rowe Price Group Stock Up 0.4 %

TROW traded up $0.43 during trading hours on Monday, hitting $112.49. 1,921,108 shares of the company's stock were exchanged, compared to its average volume of 1,257,208. T. Rowe Price Group has a 1-year low of $90.02 and a 1-year high of $122.27. The stock's 50-day moving average is $108.32 and its two-hundred day moving average is $111.69. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group will post 9.16 EPS for the current year.

Insiders Place Their Bets

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 shares were 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 $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm'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 transaction of $50,689.32. Following the completion of the sale, the insider now 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. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager's stock valued at $396,207,000 after buying an additional 124,686 shares during the last quarter. American Century Companies Inc. raised its holdings in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager's stock valued at $289,750,000 after buying an additional 107,086 shares during the last quarter. Provident Trust Co. raised its holdings in T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager's stock valued at $261,185,000 after buying an additional 7,905 shares during the last quarter. ProShare Advisors LLC raised its holdings in T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager's stock valued at $188,592,000 after buying an additional 40,490 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.