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

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

Several other research analysts also recently weighed in on TROW. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley lifted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four equities 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 company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Stock Up 0.7 %

NASDAQ:TROW opened at $114.21 on Friday. The stock’s 50 day moving average price is $117.31 and its 200 day moving average price is $112.81. The company has a market capitalization of $25.37 billion, a PE ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group will post 9.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC raised its holdings 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 worth $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings 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 worth $32,000 after acquiring an additional 104 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the third quarter worth $37,000. Larson Financial Group LLC raised its holdings 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 worth $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of T. Rowe Price Group in the third quarter worth $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.

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.