Morgan Stanley Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by equities research analysts at Morgan Stanley from $129.00 to $132.00 in a research note 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 suggest a potential upside of 13.97% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group decreased their price objective 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. Keefe, Bruyette & Woods boosted their price target on T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $2.85 during trading on Friday, reaching $115.82. The company’s stock had a trading volume of 752,152 shares, compared to its average volume of 1,277,123. The business’s fifty day moving average price is $117.35 and its 200-day moving average price is $113.25. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.73 and a beta of 1.42. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81.

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

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC lifted its holdings in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in 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 purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new stake in T. Rowe Price Group in the second quarter worth approximately $36,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $37,000. Finally, Larson Financial Group LLC lifted its stake in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the period. 73.39% of the stock is 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.