T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, Evercore ISI Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by investment analysts at Evercore ISI from $112.00 to $113.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target suggests a potential downside of 5.79% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. cut 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 note on Monday. Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company upped their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Stock Down 1.1 %

TROW traded down $1.37 during trading on Thursday, hitting $119.94. The company’s stock had a trading volume of 54,406 shares, compared to its average volume of 1,257,234. The firm’s 50 day moving average price is $108.79 and its two-hundred day moving average price is $111.82. T. Rowe Price Group has a 12 month low of $90.02 and a 12 month high of $122.27. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group will post 9.27 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC lifted its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc lifted its position in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the last quarter. 73.39% of the stock is 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.