T. Rowe Price Group (NASDAQ:TROW) had its price target raised by analysts at BMO Capital Markets from $109.00 to $128.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 3.64% from the stock’s current price.
Several other brokerages also recently issued reports on TROW. BidaskClub downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup boosted their price objective on T. Rowe Price Group from $100.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Bank of America dropped their price objective on T. Rowe Price Group from $118.00 to $98.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $112.50.
Shares of NASDAQ TROW opened at $123.50 on Monday. The firm’s 50-day simple moving average is $120.88 and its 200 day simple moving average is $118.84. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.03. T. Rowe Price Group has a 12-month low of $82.51 and a 12-month high of $139.82.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, April 28th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.08. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. T. Rowe Price Group had a net margin of 33.86% and a return on equity of 29.22%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. On average, equities analysts expect that T. Rowe Price Group will post 7.19 earnings per share for the current year.
In related news, Director Mary K. Bush sold 1,851 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total transaction of $213,494.34. Following the completion of the sale, the director now directly owns 15,955 shares of the company’s stock, valued at approximately $1,840,249.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Oestreicher sold 3,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $120.85, for a total value of $422,975.00. Following the sale, the vice president now directly owns 97,673 shares of the company’s stock, valued at $11,803,782.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,851 shares of company stock valued at $1,047,719. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 19.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,630 shares of the asset manager’s stock worth $186,000 after purchasing an additional 265 shares in the last quarter. Victory Capital Management Inc. boosted its position in T. Rowe Price Group by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 321,717 shares of the asset manager’s stock worth $39,198,000 after acquiring an additional 16,602 shares during the last quarter. National Asset Management Inc. acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $336,000. Korea Investment CORP acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $3,801,000. Finally, KBC Group NV boosted its position in T. Rowe Price Group by 2.0% during the 4th quarter. KBC Group NV now owns 23,885 shares of the asset manager’s stock worth $2,910,000 after acquiring an additional 462 shares during the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.
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.
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