T. Rowe Price Group, Inc. (NASDAQ:TROW) had its target price raised by equities researchers at UBS AG from $69.00 to $72.00 in a research report issued on Friday, www.benzinga.com reports. The firm presently has a “sell” rating on the asset manager’s stock. UBS AG’s price objective suggests a potential downside of 23.39% from the company’s current price.

A number of other brokerages have also issued reports on TROW. Citigroup Inc. boosted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays PLC boosted their target price on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 target price (up from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their target price for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Finally, Goldman Sachs Group, Inc. (The) raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $89.50.

T. Rowe Price Group (TROW) traded down 1.15% on Friday, reaching $93.98. The company’s stock had a trading volume of 1,753,532 shares. T. Rowe Price Group has a 52-week low of $62.97 and a 52-week high of $97.35. The firm has a market capitalization of $22.59 billion, a P/E ratio of 16.14 and a beta of 1.25. The firm has a 50-day moving average price of $89.68 and a 200 day moving average price of $79.57.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. T. Rowe Price Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 earnings per share. Equities analysts anticipate that T. Rowe Price Group will post $5.86 earnings per share for the current fiscal year.

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In other news, CFO Kenneth V. Moreland sold 13,041 shares of T. Rowe Price Group stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the transaction, the chief financial officer now owns 135,028 shares in the company, valued at $12,210,582.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of T. Rowe Price Group stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the transaction, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The disclosure for this sale can be found here. Insiders have sold 18,204 shares of company stock worth $1,640,922 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of TROW. Cleararc Capital Inc. grew its stake in T. Rowe Price Group by 0.5% in the first quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock valued at $405,000 after purchasing an additional 31 shares in the last quarter. Sheets Smith Wealth Management grew its stake in T. Rowe Price Group by 0.7% in the second quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 38 shares in the last quarter. Good Life Advisors LLC grew its stake in T. Rowe Price Group by 1.1% in the second quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 52 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in T. Rowe Price Group by 0.3% in the second quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock valued at $1,451,000 after purchasing an additional 53 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in T. Rowe Price Group by 0.8% in the second quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock valued at $542,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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