T. Rowe Price Group (NASDAQ:TROW) Given New $115.00 Price Target at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by analysts at Evercore ISI from $118.00 to $115.00 in a research note issued on Friday,MarketScreener reports. Evercore ISI’s price target points to a potential upside of 8.71% from the stock’s previous close.

A number of other equities analysts have also commented on TROW. Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Barclays set a $101.00 price objective on shares of T. Rowe Price Group in a research note on Monday, November 3rd. TD Cowen raised their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Finally, Bank of America increased their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $108.77.

T. Rowe Price Group Price Performance

Shares of TROW opened at $105.79 on Friday. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81. The stock’s fifty day moving average price is $102.80 and its two-hundred day moving average price is $101.99. The firm has a market cap of $23.09 billion, a PE ratio of 11.52, a PEG ratio of 3.47 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.57 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of TROW. TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group during the 1st quarter valued at $27,000. Root Financial Partners LLC bought a new stake in T. Rowe Price Group in the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its position in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other 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.