Morgan Stanley Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by equities research analysts at Morgan Stanley from $94.00 to $95.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target indicates a potential upside of 3.93% from the company’s previous close.

TROW has been the subject of several other reports. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Stock Performance

TROW stock opened at $91.41 on Tuesday. The firm has a fifty day moving average price of $90.99 and a 200 day moving average price of $106.57. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $20.31 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. On average, equities analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Addison Advisors LLC increased its position in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $27,000. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Finally, Advantage Trust Co grew its position in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

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.