T. Rowe Price Group (NASDAQ:TROW) Given New $111.00 Price Target at JPMorgan Chase & Co.

T. Rowe Price Group (NASDAQ:TROW) had its target price hoisted by analysts at JPMorgan Chase & Co. from $109.00 to $111.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 9.05% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. TD Cowen lifted their target price on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research note on Monday, October 13th. Finally, Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $107.62.

T. Rowe Price Group Stock Down 0.7%

Shares of NASDAQ:TROW traded down $0.75 during trading on Monday, hitting $101.79. 440,183 shares of the company were exchanged, compared to its average volume of 1,730,078. The business’s 50 day moving average is $105.08 and its 200-day moving average is $100.32. The company has a market capitalization of $22.36 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. grew its holdings in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $27,000. Root Financial Partners LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of 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 purchasing an additional 174 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. 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.