TD Cowen Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $108.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by equities research analysts at TD Cowen from $107.00 to $108.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price objective points to a potential downside of 3.88% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays dropped their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday. BMO Capital Markets lifted their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday. Finally, Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $106.33.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.61 on Monday, reaching $112.36. 1,323,442 shares of the stock were exchanged, compared to its average volume of 2,231,185. The firm’s 50 day moving average is $111.77 and its 200-day moving average is $102.11. The firm has a market cap of $24.08 billion, a PE ratio of 11.27, a P/E/G ratio of 4.01 and a beta of 1.47. T. Rowe Price Group has a one year low of $85.22 and a one year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.45%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm posted $2.24 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group will post 10.11 EPS for the current fiscal year.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its holdings in shares of T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after purchasing an additional 11,691 shares in the last quarter. SVB Wealth LLC increased its position in shares of T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after purchasing an additional 16,155 shares during the last quarter. LBP AM SA raised its position in T. Rowe Price Group by 23.9% in the fourth quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after acquiring an additional 30,226 shares during the period. Generali Asset Management SPA SGR raised its holdings in T. Rowe Price Group by 1,680.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after purchasing an additional 16,720 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after buying an additional 18,952 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.