T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $115.00 to $117.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.53% from the stock’s current price.

TROW has been the topic of a number of other reports. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Bank of America raised their target price on shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Jefferies Financial Group raised their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Finally, BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $109.31.

T. Rowe Price Group Price Performance

Shares of TROW opened at $101.27 on Monday. The firm has a market capitalization of $22.25 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50-day moving average of $104.81 and a 200 day moving average of $100.53.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.57 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC lifted its stake in T. Rowe Price Group by 52.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 10,837 shares of the asset manager’s stock valued at $1,112,000 after buying an additional 3,725 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in T. Rowe Price Group by 24.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock valued at $78,794,000 after buying an additional 152,318 shares in the last quarter. Callan Family Office LLC lifted its stake in T. Rowe Price Group by 6.5% in the 3rd quarter. Callan Family Office LLC now owns 5,407 shares of the asset manager’s stock valued at $555,000 after buying an additional 331 shares in the last quarter. Peak Retirement Planning Inc. lifted its stake in T. Rowe Price Group by 16.4% in the 3rd quarter. Peak Retirement Planning Inc. now owns 15,915 shares of the asset manager’s stock valued at $1,634,000 after buying an additional 2,240 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC lifted its stake in T. Rowe Price Group by 6.2% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 30,418 shares of the asset manager’s stock valued at $3,122,000 after buying an additional 1,767 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.