T. Rowe Price Group (NASDAQ:TROW) Rating Increased to Buy at StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

TROW has been the subject of several other reports. Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. TD Cowen upped their price objective on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the stock a “hold” rating in a report on Monday. Evercore ISI decreased their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Stock Up 0.9 %

NASDAQ:TROW opened at $117.17 on Wednesday. The company has a fifty day moving average of $115.72 and a 200 day moving average of $113.35. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market capitalization of $26.16 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.69 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group will post 8.84 EPS for the current year.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,444 shares of company stock valued at $740,408. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the stock. OLD National Bancorp IN boosted its holdings in shares of T. Rowe Price Group by 3.7% during the 2nd quarter. OLD National Bancorp IN now owns 64,512 shares of the asset manager’s stock valued at $7,439,000 after acquiring an additional 2,298 shares during the last quarter. Legacy Financial Strategies LLC lifted its stake in shares of T. Rowe Price Group by 10.0% in the 2nd quarter. Legacy Financial Strategies LLC now owns 24,005 shares of the asset manager’s stock worth $2,779,000 after purchasing an additional 2,174 shares during the period. Simplicity Wealth LLC lifted its stake in shares of T. Rowe Price Group by 7.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,967 shares of the asset manager’s stock worth $342,000 after purchasing an additional 212 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of T. Rowe Price Group by 8.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,887 shares of the asset manager’s stock worth $333,000 after purchasing an additional 228 shares during the period. Finally, Matrix Trust Co lifted its stake in shares of T. Rowe Price Group by 6.1% in the 2nd quarter. Matrix Trust Co now owns 13,945 shares of the asset manager’s stock worth $1,608,000 after purchasing an additional 806 shares during the period. Hedge funds and other 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.