UBS Group Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $109.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by equities researchers at UBS Group from $100.00 to $109.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “sell” rating on the asset manager’s stock. UBS Group’s price target suggests a potential downside of 5.38% from the company’s current price.

TROW has been the subject of several other reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a research report on Thursday. Morgan Stanley upped their price target on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. Finally, Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $108.40.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $2.52 during trading on Friday, hitting $115.20. 409,359 shares of the company traded hands, compared to its average volume of 1,374,445. The firm has a market capitalization of $25.76 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 2.37 and a beta of 1.40. The business’s fifty day moving average is $114.35 and its 200 day moving average is $106.43. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 earnings per share. On average, analysts predict that T. Rowe Price Group will post 8.06 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in TROW. Fairfield Bush & CO. purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $150,000. Roundview Capital LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $2,092,000. Cibc World Market Inc. lifted its stake in T. Rowe Price Group by 75.9% in the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock worth $4,092,000 after acquiring an additional 11,675 shares during the period. Dimensional Fund Advisors LP lifted its stake in T. Rowe Price Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock worth $175,099,000 after acquiring an additional 60,580 shares during the period. Finally, Prudential PLC lifted its stake in T. Rowe Price Group by 47.1% in the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock worth $1,832,000 after acquiring an additional 3,880 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.