T. Rowe Price Group (NASDAQ:TROW)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $108.00 price target on the asset manager’s stock, down from their prior price target of $125.00. Bank of America’s price target suggests a potential upside of 15.78% from the company’s previous close.
A number of other brokerages have also commented on TROW. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Deutsche Bank lowered their price objective on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. BidaskClub lowered T. Rowe Price Group from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. UBS Group lowered their price objective on T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, October 8th. Finally, Morgan Stanley increased their price objective on T. Rowe Price Group from $116.00 to $118.00 and gave the company a “hold” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $108.00.
Shares of NASDAQ TROW opened at $93.28 on Thursday. The stock has a market cap of $22.83 billion, a PE ratio of 13.32, a P/E/G ratio of 1.08 and a beta of 1.21. T. Rowe Price Group has a 52 week low of $91.48 and a 52 week high of $127.43.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.37. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. During the same quarter in the prior year, the firm posted $1.56 EPS. Analysts expect that T. Rowe Price Group will post 7.38 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. Townsend & Associates Inc acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $135,000. Focused Wealth Management Inc acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $139,000. Ancora Advisors LLC acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $171,000. Daiwa SB Investments Ltd. acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $202,000. Finally, Calton & Associates Inc. acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $202,000. 71.57% of the stock is currently 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.
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