T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $101.00 at Barclays

T. Rowe Price Group (NASDAQ:TROW) had its price target raised by Barclays from $99.00 to $101.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays‘s target price suggests a potential downside of 7.32% from the company’s current price.

TROW has been the topic of several other research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upped their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $112.82.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock remained flat at $108.98 during midday trading on Monday. 87,999 shares of the company’s stock traded hands, compared to its average volume of 1,246,977. The business’s 50 day simple moving average is $106.75 and its 200-day simple moving average is $112.26. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market capitalization of $24.34 billion, a P/E ratio of 12.93, a PEG ratio of 1.79 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. As a group, equities analysts predict that T. Rowe Price Group will post 9.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of large investors have recently added to or reduced their stakes in TROW. V Square Quantitative Management LLC boosted its position in shares of T. Rowe Price Group by 31.5% in the fourth quarter. V Square Quantitative Management LLC now owns 4,142 shares of the asset manager’s stock valued at $446,000 after acquiring an additional 992 shares during the period. Virtu Financial LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $558,000. HighPoint Advisor Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $715,000. Nomura Holdings Inc. bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $691,000. Finally, Kapitalo Investimentos Ltda boosted its position in shares of T. Rowe Price Group by 17.4% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,179 shares of the asset manager’s stock valued at $127,000 after acquiring an additional 175 shares during the period. Institutional investors 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.