T. Rowe Price Group (NASDAQ:TROW) Research Coverage Started at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group (NASDAQ:TROW) in a report released on Thursday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $109.00 price target on the asset manager’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.25% from the company’s current price.

A number of other analysts have also recently issued reports on TROW. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. TD Cowen cut their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price for the company. Finally, Evercore ISI cut their target price on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.30.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $104.56 on Thursday. The firm has a fifty day moving average price of $109.60 and a 200-day moving average price of $113.48. The stock has a market cap of $23.35 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.66 and a beta of 1.41. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.02 earnings per share. On average, research analysts expect that T. Rowe Price Group will post 9 EPS for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders sold 15,370 shares of company stock valued at $1,627,078 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently made changes to their positions in TROW. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $29,000. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. Versant Capital Management Inc lifted its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after acquiring an additional 160 shares during the last quarter. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after acquiring an additional 206 shares during the last quarter. Institutional investors 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.