Citigroup Inc. Raises T. Rowe Price Group, Inc. (TROW) Price Target to $90.00
T. Rowe Price Group, Inc. (NASDAQ:TROW) had its price objective lifted by Citigroup Inc. from $73.50 to $90.00 in a report issued on Wednesday morning. The firm currently has a neutral rating on the asset manager’s stock.
TROW has been the subject of several other research reports. UBS AG reissued a sell rating and issued a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. TheStreet raised T. Rowe Price Group from a c+ rating to a b- rating in a report on Friday, April 28th. Zacks Investment Research raised T. Rowe Price Group from a hold rating to a buy rating and set a $83.00 price objective for the company in a report on Wednesday, June 28th. Credit Suisse Group boosted their price objective on T. Rowe Price Group from $70.00 to $90.00 and gave the company a neutral rating in a report on Wednesday. Finally, Deutsche Bank AG reissued a hold rating and issued a $71.00 price objective (down previously from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $77.90.
Shares of T. Rowe Price Group (NASDAQ TROW) traded down 0.39% during mid-day trading on Wednesday, reaching $82.35. The company’s stock had a trading volume of 1,386,170 shares. T. Rowe Price Group has a 12-month low of $62.97 and a 12-month high of $85.42. The firm has a market cap of $19.79 billion, a P/E ratio of 14.14 and a beta of 1.22. The firm’s 50-day moving average price is $76.71 and its 200 day moving average price is $72.16.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, analysts expect that T. Rowe Price Group will post $5.57 EPS for the current year.
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A number of large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock valued at $107,000 after buying an additional 23 shares during the period. Cleararc Capital Inc. raised its stake in T. Rowe Price Group by 0.5% in the first quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock valued at $405,000 after buying an additional 31 shares during the period. Sheets Smith Wealth Management raised its stake in T. Rowe Price Group by 0.7% in the second quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock valued at $393,000 after buying an additional 38 shares during the period. First Bank & Trust raised its stake in T. Rowe Price Group by 0.8% in the first quarter. First Bank & Trust now owns 5,905 shares of the asset manager’s stock valued at $402,000 after buying an additional 45 shares during the period. Finally, Private Trust Co. NA raised its stake in T. Rowe Price Group by 0.8% in the second quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock valued at $542,000 after buying an additional 60 shares during the period. Institutional investors own 71.25% of the company’s stock.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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