Evercore ISI upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from an in-line rating to an outperform rating in a research note published on Thursday, Marketbeat reports. Evercore ISI currently has $99.00 target price on the asset manager’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded T. Rowe Price Group from a hold rating to a buy rating and set a $122.00 target price on the stock in a research note on Thursday, October 11th. Bank of America reiterated a buy rating and issued a $108.00 target price (down from $125.00) on shares of T. Rowe Price Group in a research note on Thursday, December 6th. Morgan Stanley cut their target price on T. Rowe Price Group from $105.00 to $98.00 and set an equal weight rating on the stock in a research note on Friday, January 4th. Deutsche Bank cut their target price on T. Rowe Price Group from $109.00 to $103.00 and set a hold rating on the stock in a research note on Friday, November 16th. Finally, Citigroup cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set a hold rating on the stock in a research note on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. T. Rowe Price Group has an average rating of Hold and a consensus target price of $103.36.
Shares of TROW opened at $94.15 on Thursday. T. Rowe Price Group has a 12-month low of $84.59 and a 12-month high of $127.43. The firm has a market cap of $22.66 billion, a P/E ratio of 13.17, a PEG ratio of 1.49 and a beta of 1.03.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.25). The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.12%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 earnings per share. On average, analysts predict that T. Rowe Price Group will post 6.18 EPS for the current fiscal year.
In other news, VP Christopher D. Alderson sold 5,681 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $92.22, for a total transaction of $523,901.82. Following the transaction, the vice president now directly owns 118,818 shares of the company’s stock, valued at $10,957,395.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Reilly Financial Advisors LLC increased its holdings in shares of T. Rowe Price Group by 66.3% during the fourth quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Ruggie Capital Group acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $28,000. Private Ocean LLC increased its holdings in shares of T. Rowe Price Group by 66.5% during the fourth quarter. Private Ocean LLC now owns 388 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 155 shares during the period. We Are One Seven LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $36,000. Finally, First Mercantile Trust Co. increased its holdings in shares of T. Rowe Price Group by 68.0% during the fourth quarter. First Mercantile Trust Co. now owns 420 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 170 shares during the period. 71.12% of the stock is currently owned by institutional investors.
About T. Rowe Price Group
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.
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