T. Rowe Price Group’s (TROW) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a research note released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a $115.00 price objective on the asset manager’s stock, down from their previous price objective of $120.00.

Several other equities analysts have also issued reports on TROW. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research note on Wednesday, July 29th. Evercore set a $121.00 price objective on T. Rowe Price Group in a research note on Friday, July 10th. Barclays decreased their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research report on Monday. BMO Capital Markets boosted their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, TD Cowen increased their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $105.92.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $114.98 on Monday. The company’s 50 day simple moving average is $112.42 and its 200 day simple moving average is $102.30. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. T. Rowe Price Group has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group will post 10.12 EPS for the current fiscal year.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. TD Private Client Wealth LLC raised its position in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $31,000. Sound Income Strategies LLC grew its holdings in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Institutional investors own 73.39% of the company’s stock.

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.