T. Rowe Price Group (NASDAQ:TROW) Stock Rating Upgraded by StockNews.com

T. Rowe Price Group (NASDAQ:TROW) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Barclays raised their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Trading Up 2.8 %

NASDAQ:TROW opened at $116.12 on Friday. The stock has a 50 day simple moving average of $117.50 and a 200 day simple moving average of $113.22. The stock has a market cap of $25.80 billion, a P/E ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that T. Rowe Price Group will post 9.39 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently added to or reduced their stakes in TROW. Atria Wealth Solutions Inc. grew its stake in shares of T. Rowe Price Group by 9.9% in the second quarter. Atria Wealth Solutions Inc. now owns 12,907 shares of the asset manager’s stock worth $1,488,000 after purchasing an additional 1,158 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $228,000. &PARTNERS raised its position in shares of T. Rowe Price Group by 26.7% during the second quarter. &PARTNERS now owns 5,417 shares of the asset manager’s stock worth $625,000 after acquiring an additional 1,140 shares during the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Finally, Baillie Gifford & Co. raised its stake in T. Rowe Price Group by 8.6% during the second quarter. Baillie Gifford & Co. now owns 393,301 shares of the asset manager’s stock worth $45,352,000 after buying an additional 31,290 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.