T. Rowe Price Group, Inc. (NASDAQ:TROW) Receives $112.67 Consensus Target Price from Brokerages

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have earned an average rating of “Reduce” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $112.10.

A number of research analysts have weighed in on TROW shares. Evercore ISI decreased their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday. Morgan Stanley raised their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group raised their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,921 shares of company stock valued at $1,500,133. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simmons Bank raised its holdings in T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after acquiring an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP raised its holdings in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares in the last quarter. Nordea Investment Management AB raised its holdings in T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares in the last quarter. Vest Financial LLC raised its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at $953,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $109.57 on Friday. The firm has a market cap of $24.50 billion, a P/E ratio of 13.01, a P/E/G ratio of 2.14 and a beta of 1.40. The stock’s 50-day moving average is $115.17 and its 200-day moving average is $107.23. T. Rowe Price Group has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. Equities analysts anticipate that T. Rowe Price Group will post 8.36 EPS for the current year.

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.