T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Evercore ISI Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by research analysts at Evercore ISI from $112.00 to $113.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price objective indicates a potential downside of 3.93% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley upped their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $2.44 during midday trading on Thursday, hitting $117.62. 1,383,414 shares of the company’s stock were exchanged, compared to its average volume of 1,263,906. T. Rowe Price Group has a 52-week low of $90.02 and a 52-week high of $122.27. The stock has a 50-day moving average price of $109.33 and a two-hundred day moving average price of $111.92. The company has a market cap of $26.13 billion, a P/E ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.32 earnings per share for the current year.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Insight Folios Inc raised its stake in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after buying an additional 92 shares in the last quarter. Keystone Financial Services raised its stake in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares in the last quarter. Nvwm LLC raised its stake in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its stake in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after buying an additional 95 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.