T. Rowe Price Group (NASDAQ:TROW) Raised to “Buy” at StockNews.com

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

TROW has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Evercore ISI lifted their target price 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. Deutsche Bank Aktiengesellschaft increased 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 research report on Monday, November 11th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, 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 for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Stock Performance

TROW traded up $3.15 during mid-day trading on Friday, reaching $116.12. 4,136,218 shares of the stock were exchanged, compared to its average volume of 1,290,846. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The stock has a market capitalization of $25.80 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The company has a 50 day moving average price of $117.50 and a two-hundred day moving average price of $113.24.

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 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 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

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

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Atria Wealth Solutions Inc. lifted its stake in T. Rowe Price Group by 9.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 12,907 shares of the asset manager’s stock worth $1,488,000 after purchasing an additional 1,158 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter worth $228,000. &PARTNERS boosted its stake in T. Rowe Price Group by 26.7% during the second quarter. &PARTNERS now owns 5,417 shares of the asset manager’s stock valued at $625,000 after buying an additional 1,140 shares during the period. Family Firm Inc. purchased a new position in T. Rowe Price Group during the second quarter worth about $36,000. Finally, Baillie Gifford & Co. increased its stake in T. Rowe Price Group by 8.6% in the 2nd quarter. Baillie Gifford & Co. now owns 393,301 shares of the asset manager’s stock worth $45,352,000 after acquiring an additional 31,290 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.