UBS Group initiated coverage on shares of T. Rowe Price Group (NASDAQ:TROW – Get Free Report) in a research note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $107.00 price target on the asset manager’s stock. UBS Group’s price objective would indicate a potential upside of 3.86% from the stock’s previous close.
TROW has been the subject of a number of other research reports. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Evercore increased their target price on T. Rowe Price Group from $113.00 to $121.00 in a research note on Monday, September 28th. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Finally, The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $105.69.
Get Our Latest Research Report on T. Rowe Price Group
T. Rowe Price Group Stock Performance
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share 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 20.91%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $2.24 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 10.13 EPS for the current year.
Insiders Place Their Bets
In other news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.
Institutional Trading of T. Rowe Price Group
A number of hedge funds have recently made changes to their positions in TROW. Bank & Trust Co raised its stake in shares of T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares during the last quarter. Motiv8 Investments LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth about $35,000. Keating Financial Advisory Services Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $39,000. Clearstead Trust LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $41,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.
Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.
Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.
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