JPMorgan Chase & Co. Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $103.00

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by analysts at JPMorgan Chase & Co. from $94.00 to $103.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 7.53% from the stock’s current price.

Several other research firms have also commented on TROW. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the stock from $92.00 to $114.00 in a report on Monday, April 8th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley raised their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, January 19th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $110.56.

T. Rowe Price Group Stock Down 0.6 %

NASDAQ TROW opened at $111.39 on Tuesday. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76. The business’s fifty day simple moving average is $114.67 and its 200-day simple moving average is $106.69. The firm has a market cap of $24.91 billion, a PE ratio of 14.35, a P/E/G ratio of 2.20 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $1.74 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group will post 8.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TROW. Simmons Bank boosted its stake in shares of T. Rowe Price Group by 23.0% during the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after acquiring an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP boosted its stake in shares of T. Rowe Price Group by 5.8% during the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares during the last quarter. Vest Financial LLC boosted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after buying an additional 92,059 shares during the last quarter. Finally, Cullen Investment Group LTD. acquired a new stake in T. Rowe Price Group in the 4th quarter worth about $953,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.