T. Rowe Price Group (NASDAQ:TROW) PT Lowered to $107.00 at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its target price trimmed by Evercore ISI from $110.00 to $107.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the asset manager’s stock.

A number of other research firms have also weighed in on TROW. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an underweight rating in a research note on Tuesday, April 16th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an underweight rating in a research report on Friday, February 9th. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a sell rating in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an underperform rating to a market perform rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $112.10.

T. Rowe Price Group Trading Up 0.3 %

Shares of NASDAQ TROW traded up $0.34 during mid-day trading on Tuesday, reaching $111.50. The company had a trading volume of 1,271,921 shares, compared to its average volume of 1,459,103. The business’s 50-day moving average is $115.19 and its 200-day moving average is $107.28. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $1.69 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group will post 8.75 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders sold 12,921 shares of company stock valued at $1,500,133 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the period. ST Germain D J Co. Inc. grew its stake in T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after acquiring an additional 88 shares during the period. MCF Advisors LLC grew its stake in T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the period. Clear Harbor Asset Management LLC grew its stake in T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares during the period. Finally, Caprock Group LLC grew its stake in T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.