T. Rowe Price Group (NASDAQ:TROW) had its target price lifted by investment analysts at Morgan Stanley from $113.00 to $117.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 7.03% from the company’s current price.

A number of other equities research analysts have also recently issued reports on TROW. Jefferies Financial Group boosted their target price on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, April 1st. UBS Group boosted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday. BidaskClub cut shares of Amyris from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Barclays boosted their target price on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research raised shares of IMI PLC/S from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $107.83.

TROW traded down $0.13 during trading on Tuesday, reaching $109.32. 1,081,391 shares of the stock were exchanged, compared to its average volume of 1,247,641. The company has a market cap of $25.97 billion, a PE ratio of 15.29, a P/E/G ratio of 1.62 and a beta of 1.07. T. Rowe Price Group has a twelve month low of $84.59 and a twelve month high of $125.35. The business’s 50 day moving average price is $106.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.74 and a current ratio of 3.74.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group will post 7.54 EPS for the current year.

In other news, Director Mary K. Bush sold 3,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the transaction, the director now owns 19,243 shares of the company’s stock, valued at $2,060,155.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott B. David sold 45,118 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the transaction, the vice president now directly owns 48,454 shares of the company’s stock, valued at approximately $5,227,217.52. The disclosure for this sale can be found here. Insiders have sold 68,618 shares of company stock valued at $7,400,440 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Adirondack Trust Co. increased its stake in shares of T. Rowe Price Group by 606.1% in the first quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 200 shares during the period. Advisory Alpha LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $29,000. Trustcore Financial Services LLC increased its stake in shares of T. Rowe Price Group by 353.8% in the first quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock valued at $30,000 after buying an additional 230 shares during the period. Finally, Spectrum Management Group Inc. increased its stake in shares of T. Rowe Price Group by 105.3% in the first quarter. Spectrum Management Group Inc. now owns 308 shares of the asset manager’s stock valued at $31,000 after buying an additional 158 shares during the period. 69.32% of the stock is 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.

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Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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