T. Rowe Price Group (NASDAQ:TROW) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday.
TROW has been the subject of several other reports. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price objective for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Tuesday, September 26th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Barclays upped their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Finally, Jefferies Group restated a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $91.56.
Shares of T. Rowe Price Group (NASDAQ TROW) opened at $107.23 on Monday. T. Rowe Price Group has a 1 year low of $65.33 and a 1 year high of $107.42. The firm has a market capitalization of $25,982.90, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.73 and a beta of 1.32.
In other news, CFO Kenneth V. Moreland sold 8,066 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the completion of the sale, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kenneth V. Moreland sold 14,419 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total value of $1,399,652.33. Following the completion of the sale, the chief financial officer now directly owns 125,264 shares of the company’s stock, valued at approximately $12,159,376.48. The disclosure for this sale can be found here. Insiders sold 204,980 shares of company stock valued at $20,776,729 over the last quarter. Corporate insiders own 3.60% of the company’s stock.
Several hedge funds have recently modified their holdings of TROW. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group during the third quarter worth approximately $118,000. Grove Bank & Trust grew its stake in T. Rowe Price Group by 178.7% during the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in T. Rowe Price Group by 6.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after purchasing an additional 103 shares during the period. SRS Capital Advisors Inc. acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $123,000. Finally, Quadrant Capital Group LLC grew its stake in T. Rowe Price Group by 1.4% during the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock worth $107,000 after purchasing an additional 23 shares during the period. 72.38% of the stock is owned by institutional investors.
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T. Rowe Price Group Company Profile
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.
