StockNews.com Upgrades T. Rowe Price Group (NASDAQ:TROW) to Buy

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

Several other equities research analysts also recently commented on TROW. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods upped their price objective on shares of 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. reduced their price objective 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. Finally, Barclays upped their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Stock Up 2.8 %

Shares of NASDAQ TROW opened at $116.12 on Friday. The firm has a market cap of $25.80 billion, a PE ratio of 12.70, a P/E/G ratio of 1.73 and a beta of 1.42. The company’s fifty day simple moving average is $117.50 and its 200 day simple moving average is $113.22. T. Rowe Price Group has a 12-month low of $100.49 and a 12-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 analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group will post 9.39 earnings per share for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction 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 owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the stock. Forsta AP Fonden boosted its stake in T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after acquiring an additional 17,100 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares during the period. Savant Capital LLC lifted its stake in T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after purchasing an additional 8,816 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in T. Rowe Price Group during the second quarter valued at $15,907,000. Finally, Aigen Investment Management LP purchased a new stake in T. Rowe Price Group in the third quarter worth $516,000. 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.