T. Rowe Price Group (NASDAQ:TROW) Upgraded to Hold at BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) was upgraded by research analysts at BMO Capital Markets to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on TROW. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Bank of America raised their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $104.08.

T. Rowe Price Group Stock Up 1.5%

Shares of NASDAQ:TROW opened at $103.28 on Thursday. The company has a market cap of $22.69 billion, a P/E ratio of 11.54, a PEG ratio of 2.62 and a beta of 1.50. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a 50-day moving average price of $105.71 and a 200 day moving average price of $98.06.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Analysts expect that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the period. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group in the 1st quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC grew its stake in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $35,000. 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.