T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Barclays Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by research analysts at Barclays from $85.00 to $90.00 in a report released on Monday, Marketbeat.com reports. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential downside of 0.18% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.09.

T. Rowe Price Group Trading Down 1.4 %

NASDAQ TROW opened at $90.16 on Monday. The stock’s fifty day moving average price is $91.27 and its 200-day moving average price is $106.67. The stock has a market cap of $20.04 billion, a P/E ratio of 9.84, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business earned $2.38 EPS. T. Rowe Price Group’s revenue was up .8% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in shares of T. Rowe Price Group by 20.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,142 shares of the asset manager’s stock worth $564,000 after purchasing an additional 1,059 shares in the last quarter. FreeGulliver LLC purchased a new stake in T. Rowe Price Group in the first quarter valued at about $212,000. Principle Wealth Partners LLC raised its stake in T. Rowe Price Group by 8.9% in the first quarter. Principle Wealth Partners LLC now owns 9,947 shares of the asset manager’s stock valued at $914,000 after buying an additional 810 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in T. Rowe Price Group by 77.5% in the first quarter. Carnegie Investment Counsel now owns 20,024 shares of the asset manager’s stock worth $1,733,000 after acquiring an additional 8,743 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of T. Rowe Price Group by 3.4% during the first quarter. Pinnacle Associates Ltd. now owns 15,267 shares of the asset manager’s stock worth $1,403,000 after acquiring an additional 500 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other 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.