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

T. Rowe Price Group (NASDAQ:TROW) had its target price raised by stock analysts at Barclays from $101.00 to $110.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 3.95% from the stock’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI lifted their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Trading Up 1.8 %

Shares of T. Rowe Price Group stock opened at $114.52 on Monday. T. Rowe Price Group has a 1 year low of $90.02 and a 1 year high of $122.27. The firm has a market capitalization of $25.49 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The firm’s 50 day moving average is $108.52 and its 200 day moving average is $111.75.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.46%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its position in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. 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.