Wells Fargo & Company Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by research analysts at Wells Fargo & Company from $109.00 to $112.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.73% from the company’s previous close.

TROW has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four 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 company currently has an average rating of “Hold” and an average price target of $112.64.

T. Rowe Price Group Trading Up 0.3 %

T. Rowe Price Group stock traded up $0.34 during midday trading on Wednesday, reaching $106.94. 254,015 shares of the stock traded hands, compared to its average volume of 1,248,892. The firm has a fifty day moving average price of $106.92 and a two-hundred day moving average price of $112.49. The firm has a market cap of $23.80 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.81 and a beta of 1.41. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results 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 for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 earnings per share. Analysts anticipate that T. Rowe Price Group will post 8.97 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were 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 directly owns 123,624 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently bought and sold shares of the stock. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 54.7% during the 3rd 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 period. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $36,000. Versant Capital Management Inc lifted its holdings in shares of T. Rowe Price Group by 660.5% during 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 period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% during 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 period. 73.39% of the stock is owned by institutional investors.

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.