T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Barclays Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by stock analysts at Barclays from $110.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Barclays‘s price objective indicates a potential downside of 7.13% from the company’s current price.

Several other analysts have also recently commented on TROW. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI upped their price objective on shares of 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. Finally, Wells Fargo & Company boosted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Trading Down 0.7 %

NASDAQ:TROW traded down $0.86 during trading hours on Monday, reaching $123.83. 1,093,051 shares of the company were exchanged, compared to its average volume of 1,255,605. The firm has a market cap of $27.51 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. T. Rowe Price Group has a twelve month low of $97.50 and a twelve month high of $125.81. The stock’s 50-day moving average is $115.26 and its 200-day moving average is $113.06.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 firm 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 earned $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current year.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds have recently modified their holdings of the stock. Iron Horse Wealth Management LLC raised its position in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in T. Rowe Price Group in the second quarter worth approximately $36,000. True Wealth Design LLC purchased a new position in T. Rowe Price Group in the third quarter worth approximately $37,000. Finally, Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. 73.39% of the stock is currently 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.