Analysts Set T. Rowe Price Group, Inc. (NASDAQ:TROW) Target Price at $105.08

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) have been given an average recommendation of “Reduce” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $105.9167.

Several equities research analysts have weighed in on TROW shares. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday. TD Cowen increased their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of T. Rowe Price Group by 0.3% during the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after purchasing an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. grew its position in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after acquiring an additional 143,109 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares during the period. Finally, Invesco Ltd. increased its holdings in T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after buying an additional 131,438 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.98 on Thursday. The company has a market capitalization of $24.53 billion, a P/E ratio of 11.53, a PEG ratio of 3.73 and a beta of 1.47. T. Rowe Price Group has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The stock has a 50 day moving average price of $112.42 and a two-hundred day moving average price of $102.30.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business earned $2.24 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group will post 10.12 earnings per share for the current year.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.