T. Rowe Price Group (NASDAQ:TROW) Stock Rating Upgraded by StockNews.com

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

Several other brokerages have also issued reports on TROW. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $114.21 on Friday. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The stock’s 50-day moving average is $117.22 and its 200-day moving average is $112.79. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81.

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 for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group will post 9.45 EPS for the current year.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares during the period. Janus Henderson Group PLC increased its stake in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group in the 2nd quarter valued at $15,907,000. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $516,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Institutional investors and hedge funds 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.