BMO Capital Markets Upgrades T. Rowe Price Group (NASDAQ:TROW) to Hold

T. Rowe Price Group (NASDAQ:TROW) was upgraded by research analysts at BMO Capital Markets to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on TROW. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. Bank of America raised their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $104.08.

T. Rowe Price Group Trading Up 1.5%

Shares of NASDAQ TROW opened at $103.28 on Thursday. The business has a 50-day moving average of $105.71 and a 200-day moving average of $98.06. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.62 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 earnings per share. On average, analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently made changes to their positions in the business. Curat Global LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $60,000. Gateway Investment Advisers LLC boosted its holdings in T. Rowe Price Group by 13.9% in the first quarter. Gateway Investment Advisers LLC now owns 6,686 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 815 shares in the last quarter. Wealthcare Capital Partners LLC increased its position in T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock valued at $866,000 after purchasing an additional 115 shares during the period. Park Avenue Securities LLC raised its holdings in T. Rowe Price Group by 16.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock worth $448,000 after purchasing an additional 691 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of T. Rowe Price Group by 4.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 66,271 shares of the asset manager’s stock worth $6,088,000 after purchasing an additional 2,672 shares during the period. 73.39% of the stock is currently owned by 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.