Morgan Stanley Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group (NASDAQ:TROW) had its price target increased by stock analysts at Morgan Stanley from $105.00 to $109.00 in a research report issued to clients and investors on Friday,MarketScreener reports. Morgan Stanley’s price target suggests a potential upside of 2.50% from the stock’s previous close.

Several other research analysts have also recently weighed in on TROW. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Evercore boosted their target price on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $100.38.

T. Rowe Price Group Trading Up 1.1%

Shares of NASDAQ:TROW opened at $106.34 on Friday. The stock’s fifty day simple moving average is $103.66 and its two-hundred day simple moving average is $99.88. The stock has a market cap of $22.79 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 5.41 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm earned $2.23 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. TD Private Client Wealth LLC grew its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $31,000. Sound Income Strategies LLC boosted its holdings in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the period. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.