T. Rowe Price Group Inc. (NASDAQ:TROW) shares gapped up prior to trading on Tuesday . The stock had previously closed at $68.89, but opened at $69.05. T. Rowe Price Group shares last traded at $69.54, with a volume of 766,971 shares traded.

TROW has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, April 29th. Deutsche Bank AG reiterated a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Barclays PLC decreased their price target on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 9th. Finally, Bank of America Corp. restated a “hold” rating on shares of T. Rowe Price Group in a research report on Thursday, May 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.60.

The company’s 50-day moving average price is $71.12 and its 200-day moving average price is $72.59. The stock has a market cap of $17.28 billion and a PE ratio of 16.75.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $1,000 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group Inc. will post $4.22 EPS for the current year.

Several hedge funds recently made changes to their positions in the company. BlackRock Advisors LLC increased its stake in shares of T. Rowe Price Group by 31.0% in the fourth quarter. BlackRock Advisors LLC now owns 240,264 shares of the company’s stock valued at $17,176,000 after buying an additional 56,830 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $1,945,000. Nicholas Co. Inc. WI increased its stake in shares of T. Rowe Price Group by 20.8% in the fourth quarter. Nicholas Co. Inc. WI now owns 126,795 shares of the company’s stock valued at $9,064,000 after buying an additional 21,800 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $1,344,000. Finally, Stephens Inc. AR increased its stake in shares of T. Rowe Price Group by 75.7% in the fourth quarter. Stephens Inc. AR now owns 38,922 shares of the company’s stock valued at $2,783,000 after buying an additional 16,768 shares during the last quarter.

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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