Morgan Stanley Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price target raised by analysts at Morgan Stanley from $126.00 to $128.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 21.79% from the company’s current price.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their price target on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Friday, November 14th. Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Finally, Barclays boosted their target price on shares of T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a report on Friday. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $108.85.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.10 on Wednesday. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $119.09. The company has a market cap of $22.94 billion, a PE ratio of 11.37, a P/E/G ratio of 3.42 and a beta of 1.53. The stock has a fifty day moving average price of $103.00 and a 200 day moving average price of $102.65.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. Analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently modified their holdings of TROW. TD Waterhouse Canada Inc. grew its stake in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth $30,000. Salomon & Ludwin LLC raised its holdings in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its holdings in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $35,000. 73.39% of the stock is currently 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.