T. Rowe Price Group (NASDAQ:TROW) Price Target Increased to $109.00 by Analysts at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by research analysts at Evercore ISI from $108.00 to $109.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target would indicate a potential upside of 0.59% from the company’s previous close.

TROW has been the topic of a number of other research reports. Barclays began coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Wells Fargo & Company began coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price on the stock. Finally, The Goldman Sachs Group dropped 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 report on Thursday. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.36.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $108.36 on Friday. T. Rowe Price Group has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The company has a market cap of $24.20 billion, a PE ratio of 12.73, a P/E/G ratio of 1.75 and a beta of 1.41. The business has a 50-day simple moving average of $107.24 and a two-hundred day simple moving average of $112.77.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm posted $2.02 EPS. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group will post 8.96 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $29,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc raised its stake 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 valued at $38,000 after acquiring an additional 284 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 valued at $40,000 after acquiring an additional 160 shares during the period. Finally, Riverview Trust Co raised its position in T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 206 shares during the period. 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.