T. Rowe Price Group (NASDAQ:TROW) Given New $116.00 Price Target at Keefe, Bruyette & Woods

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by stock analysts at Keefe, Bruyette & Woods from $114.00 to $116.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 0.10% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Barclays increased their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Performance

TROW opened at $116.12 on Friday. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. The firm’s 50-day simple moving average is $117.50 and its 200-day simple moving average is $113.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $2.17 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. increased its holdings in shares of T. Rowe Price Group by 9.9% in the second quarter. Atria Wealth Solutions Inc. now owns 12,907 shares of the asset manager’s stock worth $1,488,000 after acquiring an additional 1,158 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $228,000. &PARTNERS raised its holdings in T. Rowe Price Group by 26.7% during the 2nd quarter. &PARTNERS now owns 5,417 shares of the asset manager’s stock worth $625,000 after buying an additional 1,140 shares during the period. Family Firm Inc. bought a new position in T. Rowe Price Group in the second quarter valued at approximately $36,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of T. Rowe Price Group by 8.6% in the second quarter. Baillie Gifford & Co. now owns 393,301 shares of the asset manager’s stock valued at $45,352,000 after buying an additional 31,290 shares during the period. Institutional investors and hedge funds 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.