Wells Fargo & Company restated their market perform rating on shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in a report issued on Thursday morning.

TROW has been the subject of several other reports. UBS AG reiterated a sell rating and issued a $61.00 price objective (down from $77.00) on shares of T. Rowe Price Group in a report on Wednesday, May 24th. Citigroup Inc. increased their price objective on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a neutral rating in a report on Wednesday, July 26th. Morgan Stanley reiterated an underweight rating and issued a $71.00 price objective (up from $70.00) on shares of T. Rowe Price Group in a report on Tuesday, July 18th. Credit Suisse Group increased their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a neutral rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of T. Rowe Price Group from a hold rating to a buy rating and set a $83.00 target price for the company in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. T. Rowe Price Group presently has a consensus rating of Hold and an average target price of $77.90.

Shares of T. Rowe Price Group (NASDAQ TROW) opened at 82.35 on Thursday. T. Rowe Price Group has a one year low of $62.97 and a one year high of $85.42. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 14.14 and a beta of 1.22. The firm has a 50-day moving average price of $76.71 and a 200-day moving average price of $72.16.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. T. Rowe Price Group’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group will post $5.57 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Chevy Chase Trust Holdings Inc. raised its position in T. Rowe Price Group by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 218,892 shares of the asset manager’s stock worth $14,918,000 after buying an additional 7,080 shares during the last quarter. Moreno Evelyn V raised its position in T. Rowe Price Group by 12.0% in the first quarter. Moreno Evelyn V now owns 89,305 shares of the asset manager’s stock worth $6,087,000 after buying an additional 9,545 shares during the last quarter. Rosenbaum Jay D. raised its position in T. Rowe Price Group by 6.3% in the first quarter. Rosenbaum Jay D. now owns 8,495 shares of the asset manager’s stock worth $579,000 after buying an additional 500 shares during the last quarter. Cohen Lawrence B raised its position in T. Rowe Price Group by 2.2% in the first quarter. Cohen Lawrence B now owns 31,750 shares of the asset manager’s stock worth $2,164,000 after buying an additional 680 shares during the last quarter. Finally, Liberty Capital Management Inc. raised its position in T. Rowe Price Group by 6.8% in the first quarter. Liberty Capital Management Inc. now owns 25,685 shares of the asset manager’s stock worth $1,750,000 after buying an additional 1,640 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

About T. Rowe Price Group

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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