T. Rowe Price Group (NASDAQ:TROW) Given New $117.00 Price Target at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by Keefe, Bruyette & Woods from $115.00 to $117.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 15.00% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. TD Cowen lifted their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $108.08.

T. Rowe Price Group Stock Down 0.8%

Shares of NASDAQ TROW traded down $0.80 during midday trading on Monday, reaching $101.74. 599,467 shares of the stock were exchanged, compared to its average volume of 1,731,175. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market cap of $22.35 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 5.61 and a beta of 1.50. The firm has a 50-day simple moving average of $105.08 and a two-hundred day simple moving average of $100.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $2.57 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of TROW. DAVENPORT & Co LLC grew its position in T. Rowe Price Group by 20.9% in the 1st quarter. DAVENPORT & Co LLC now owns 9,185 shares of the asset manager’s stock valued at $844,000 after acquiring an additional 1,589 shares in the last quarter. Private Trust Co. NA grew its position in shares of T. Rowe Price Group by 47.4% during the first quarter. Private Trust Co. NA now owns 2,903 shares of the asset manager’s stock worth $267,000 after buying an additional 933 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of T. Rowe Price Group by 11.1% during the first quarter. IFM Investors Pty Ltd now owns 43,476 shares of the asset manager’s stock worth $3,994,000 after buying an additional 4,341 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of T. Rowe Price Group during the first quarter worth about $43,000. Finally, World Investment Advisors boosted its holdings in T. Rowe Price Group by 34.1% in the first quarter. World Investment Advisors now owns 3,558 shares of the asset manager’s stock valued at $327,000 after purchasing an additional 904 shares in the last quarter. 73.39% 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.