BidaskClub lowered shares of T. Rowe Price Group (NASDAQ:TROW) from a strong-buy rating to a buy rating in a research note released on Wednesday.

TROW has been the subject of several other reports. Morgan Stanley raised shares of T. Rowe Price Group from an underweight rating to an equal rating and increased their price target for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. Bank of America raised shares of T. Rowe Price Group from a neutral rating to a buy rating and increased their price target for the stock from $113.00 to $125.00 in a report on Monday, January 8th. Jefferies Group reissued a buy rating and set a $104.00 price target (up from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. Barclays increased their price target on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an underweight rating in a report on Friday, October 27th. Finally, UBS Group raised shares of T. Rowe Price Group from a sell rating to a neutral rating and increased their price target for the stock from $75.00 to $110.00 in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $98.70.

T. Rowe Price Group (NASDAQ:TROW) opened at $109.82 on Wednesday. The stock has a market cap of $27,150.00, a PE ratio of 18.40, a P/E/G ratio of 1.45 and a beta of 1.28. T. Rowe Price Group has a 1-year low of $66.70 and a 1-year high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. analysts anticipate that T. Rowe Price Group will post 6.92 EPS for the current fiscal year.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total value of $1,399,652.33. Following the completion of the transaction, the chief financial officer now directly owns 125,264 shares of the company’s stock, valued at $12,159,376.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth V. Moreland sold 8,066 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,980 shares of company stock valued at $20,776,729. 3.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in shares of T. Rowe Price Group by 526.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock worth $131,707,000 after purchasing an additional 1,491,425 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of T. Rowe Price Group by 94.1% during the 3rd quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after purchasing an additional 343,926 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of T. Rowe Price Group by 397.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 409,400 shares of the asset manager’s stock worth $42,957,000 after purchasing an additional 327,033 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $28,685,000. Finally, Koch Industries Inc. purchased a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $304,000. 72.48% of the stock is owned by institutional investors.

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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.

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

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