T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $108.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROWGet Rating) had its price target hoisted by stock analysts at Morgan Stanley from $100.00 to $108.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential downside of 8.33% from the stock’s previous close.

TROW has been the topic of several other reports. StockNews.com started coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $84.00 to $96.00 and gave the stock a “sell” rating in a research report on Wednesday, November 23rd. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 13th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $90.00 to $93.00 and gave the company an “underweight” rating in a research report on Tuesday, October 18th. Finally, TheStreet upgraded shares of T. Rowe Price Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 6th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.50.

T. Rowe Price Group Stock Up 3.3 %

Shares of T. Rowe Price Group stock opened at $117.81 on Thursday. T. Rowe Price Group has a 52-week low of $93.53 and a 52-week high of $163.49. The company’s 50-day simple moving average is $117.67 and its 200-day simple moving average is $116.17. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its earnings results on Thursday, October 27th. The asset manager reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. T. Rowe Price Group had a net margin of 29.35% and a return on equity of 23.88%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group will post 7.93 EPS for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Robert C.T. Higginbotham sold 6,619 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $120.48, for a total transaction of $797,457.12. Following the transaction, the vice president now owns 70,465 shares of the company’s stock, valued at $8,489,623.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the transaction, the insider now owns 41,000 shares of the company’s stock, valued at $5,090,150. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert C.T. Higginbotham sold 6,619 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $120.48, for a total transaction of $797,457.12. Following the completion of the sale, the vice president now directly owns 70,465 shares of the company’s stock, valued at approximately $8,489,623.20. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently made changes to their positions in the business. Zullo Investment Group Inc. increased its position in shares of T. Rowe Price Group by 164.6% in the third quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock worth $27,000 after acquiring an additional 158 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of T. Rowe Price Group in the third quarter worth $28,000. Eisler Capital UK Ltd. acquired a new stake in shares of T. Rowe Price Group in the third quarter worth $29,000. Asset Dedication LLC grew its holdings in T. Rowe Price Group by 173.8% during the 4th quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 186 shares in the last quarter. Finally, Artemis Wealth Advisors LLC grew its holdings in T. Rowe Price Group by 39.7% during the 2nd quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 76.58% of the company’s stock.

T. Rowe Price Group Company Profile

(Get Rating)

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.

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