T. Rowe Price Group (NASDAQ:TROW) Stock Rating Upgraded by BMO Capital Markets

T. Rowe Price Group (NASDAQ:TROW) was upgraded by equities research analysts at BMO Capital Markets to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

TROW has been the topic of a number of other reports. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Morgan Stanley increased their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Barclays restated an “underweight” rating and set a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a report on Monday, August 4th. Finally, Bank of America boosted their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $104.08.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $103.28 on Thursday. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.62 and a beta of 1.50. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $125.81. The stock’s 50 day moving average price is $105.71 and its two-hundred day moving average price is $98.06.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 EPS. On average, equities research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’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 sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after purchasing an additional 130,325 shares during the period. State Street Corp lifted its holdings in shares of T. Rowe Price Group by 1.5% in the second quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after buying an additional 211,647 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after acquiring an additional 140,385 shares in the last quarter. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after acquiring an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after purchasing an additional 11,036 shares in the last quarter. Hedge funds and other 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.