Keefe, Bruyette & Woods restated their market perform rating on shares of T. Rowe Price Group (NASDAQ:TROW - Free Report) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $113.00 target price on the asset manager's stock, up from their previous target price of $111.00.
Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research note on Monday, November 11th. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $115.09.
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T. Rowe Price Group Stock Performance
Shares of TROW traded down $0.52 during mid-day trading on Thursday, hitting $109.62. 1,240,398 shares of the company's stock were exchanged, compared to its average volume of 1,580,074. The stock's 50-day moving average is $115.78 and its 200-day moving average is $112.54. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.70 and a beta of 1.44.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter last year, the company posted $1.72 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group will post 9.36 EPS for the current year.
Insider Buying and Selling at T. Rowe Price Group
In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On T. Rowe Price Group
Several hedge funds have recently modified their holdings of the stock. Nilsine Partners LLC raised its position in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after buying an additional 2,370 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC raised its holdings in T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock worth $3,267,000 after purchasing an additional 1,100 shares in the last quarter. Aigen Investment Management LP purchased a new position in T. Rowe Price Group during the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.
About T. Rowe Price Group
(
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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.
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