TD Cowen Raises T. Rowe Price Group (NASDAQ:TROW) Price Target to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective lifted by investment analysts at TD Cowen from $108.00 to $112.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. TD Cowen’s price target indicates a potential upside of 10.09% from the stock’s current price.

A number of other research analysts also recently weighed in on TROW. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Bank of America lifted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Finally, Barclays set a $101.00 price objective on shares of T. Rowe Price Group in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $108.08.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $0.80 during mid-day trading on Monday, reaching $101.74. The company’s stock had a trading volume of 599,467 shares, compared to its average volume of 1,731,175. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81. The business’s 50 day simple moving average is $105.08 and its 200 day simple moving average is $100.32.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business 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 firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’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 value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. lifted its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Root Financial Partners LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the 1st quarter valued at approximately $27,000. Salomon & Ludwin LLC lifted its stake in T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in 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 valued at $31,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.