Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target at $115.82

T. Rowe Price Group, Inc. (NASDAQ:TROW) has earned an average recommendation of “Reduce” from the eleven research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $115.82.

A number of equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th.

T. Rowe Price Group Stock Up 1.4 %

NASDAQ:TROW opened at $115.89 on Friday. The company has a fifty day moving average of $117.01 and a 200 day moving average of $112.74. T. Rowe Price Group has a 52 week low of $100.49 and a 52 week high of $125.81. The firm has a market capitalization of $25.75 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group will post 9.45 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This 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. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently bought and sold shares of the company. MOKAN Wealth Management Inc. purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $573,000. Allworth Financial LP grew its position in T. Rowe Price Group by 14.2% during the 4th quarter. Allworth Financial LP now owns 7,414 shares of the asset manager’s stock valued at $842,000 after purchasing an additional 922 shares during the last quarter. Principal Securities Inc. lifted its stake in T. Rowe Price Group by 10.0% during the 4th quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 173 shares during the period. Congress Asset Management Co. lifted its stake in T. Rowe Price Group by 0.7% during the 4th quarter. Congress Asset Management Co. now owns 139,319 shares of the asset manager’s stock valued at $15,756,000 after acquiring an additional 1,013 shares during the period. Finally, PUREfi Wealth LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at about $257,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.