Barclays Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by equities researchers at Barclays from $101.00 to $110.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price points to a potential downside of 1.84% from the stock’s current price.

A number of other equities analysts have also commented on TROW. Morgan Stanley lifted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.00.

T. Rowe Price Group Trading Up 2.0 %

Shares of NASDAQ:TROW opened at $112.06 on Monday. The stock has a market capitalization of $24.94 billion, a PE ratio of 13.23, a P/E/G ratio of 1.71 and a beta of 1.41. The firm has a fifty day moving average price of $108.32 and a 200 day moving average price of $111.69. T. Rowe Price Group has a 1 year low of $90.02 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.17 EPS. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.16 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. lifted its position in T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. Provident Trust Co. grew its holdings in T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after acquiring an additional 7,905 shares during the last quarter. ProShare Advisors LLC increased its position in T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after acquiring an additional 40,490 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the last quarter. 73.39% of the stock is currently owned by 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.