T. Rowe Price Group (NASDAQ:TROW) Upgraded at StockNews.com

StockNews.com upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a buy rating in a report published on Saturday.

A number of other equities analysts have also commented on the stock. Barclays cut their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. 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. Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. 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, Morgan Stanley increased their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Stock Down 0.4 %

Shares of TROW opened at $113.73 on Friday. The business has a 50-day simple moving average of $117.22 and a two-hundred day simple moving average of $112.77. T. Rowe Price Group has a 12-month low of $100.49 and a 12-month high of $125.81. The stock has a market cap of $25.27 billion, a PE ratio of 12.44, a PEG ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group will post 9.45 EPS for the current year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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 of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after buying an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.5% during 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 buying an additional 231,286 shares during the last quarter. AQR Capital Management LLC increased its position in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after acquiring an additional 152,430 shares during the last quarter. 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.