T. Rowe Price Group (NASDAQ:TROW) PT Raised to $127.00 at Morgan Stanley

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by analysts at Morgan Stanley from $125.00 to $127.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.83% from the company’s previous close.

A number of other research firms also recently commented on TROW. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Barclays increased their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Trading Up 2.1 %

Shares of NASDAQ:TROW opened at $115.63 on Friday. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.84 and a beta of 1.41. The stock’s 50-day moving average price is $107.54 and its two-hundred day moving average price is $112.01. T. Rowe Price Group has a 12-month low of $87.43 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business posted $2.02 earnings per share. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group will post 9.04 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares during the period. American Century Companies Inc. boosted its holdings in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after buying an additional 107,086 shares during the period. ProShare Advisors LLC grew its position in shares of T. Rowe Price Group by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after buying an additional 40,490 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in T. Rowe Price Group by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock worth $75,429,000 after acquiring an additional 4,701 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.