T. Rowe Price Group (NASDAQ:TROW) Stock Rating Upgraded by StockNews.com

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the stock a "market perform" rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Finally, Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and an average price target of $117.00.

T. Rowe Price Group Stock Up 2.8 %

Shares of TROW stock traded up $3.15 during mid-day trading on Friday, reaching $116.12. 4,136,218 shares of the stock traded hands, compared to its average volume of 1,290,846. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The stock's fifty day simple moving average is $117.50 and its two-hundred day simple moving average is $113.24. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.17 EPS. The firm's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its holdings in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock valued at $3,267,000 after buying an additional 1,100 shares in the last quarter. Savant Capital LLC lifted its stake in shares of T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock valued at $3,792,000 after buying an additional 8,816 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of T. Rowe Price Group during the second quarter worth about $15,907,000. Finally, Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group during the third quarter worth about $516,000. 73.39% of the stock is 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.

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