T. Rowe Price Group (TROW) Price Target Cut to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective lowered by analysts at Morgan Stanley from $115.00 to $112.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “hold” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential upside of 3.40% from the company’s previous close.

TROW has been the topic of several other research reports. Bank of America upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $125.00 in a research report on Monday, January 8th. Barclays raised their price target on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. UBS Group upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Wednesday, December 27th. Finally, ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $100.60.

Shares of T. Rowe Price Group (TROW) opened at $108.32 on Tuesday. The company has a market cap of $26,250.00, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.23 and a beta of 1.28. T. Rowe Price Group has a 52-week low of $66.70 and a 52-week high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $1.21 earnings per share. research analysts forecast that T. Rowe Price Group will post 7.12 earnings per share for the current fiscal year.

In related news, CFO Kenneth V. Moreland sold 14,419 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the transaction, the chief financial officer now directly owns 125,264 shares in the company, valued at $12,159,376.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D. Alderson sold 6,808 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $102.83, for a total transaction of $700,066.64. Following the transaction, the vice president now owns 119,846 shares in the company, valued at $12,323,764.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,980 shares of company stock worth $20,776,729. Company insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in T. Rowe Price Group by 5.2% during the fourth quarter. BlackRock Inc. now owns 17,331,073 shares of the asset manager’s stock worth $1,818,551,000 after acquiring an additional 851,752 shares during the last quarter. JPMorgan Chase & Co. boosted its position in T. Rowe Price Group by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock worth $1,079,267,000 after acquiring an additional 218,211 shares during the last quarter. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 3,169,650 shares of the asset manager’s stock worth $332,026,000 after acquiring an additional 121,905 shares during the last quarter. Ameriprise Financial Inc. boosted its position in T. Rowe Price Group by 11.4% during the third quarter. Ameriprise Financial Inc. now owns 1,782,523 shares of the asset manager’s stock worth $161,591,000 after acquiring an additional 182,317 shares during the last quarter. Finally, Provident Trust Co. boosted its position in T. Rowe Price Group by 1.3% during the fourth quarter. Provident Trust Co. now owns 1,544,881 shares of the asset manager’s stock worth $162,104,000 after acquiring an additional 19,296 shares during the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “T. Rowe Price Group (TROW) Price Target Cut to $112.00” was first reported by Week Herald and is the property of of Week Herald. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://weekherald.com/2018/02/15/t-rowe-price-group-trow-price-target-cut-to-112-00.html.

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)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply