BidaskClub cut shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) from a strong-buy rating to a buy rating in a research note released on Tuesday.

A number of other brokerages have also recently issued reports on TROW. Citigroup Inc. upped their target price on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a neutral rating in a report on Wednesday, July 26th. Credit Suisse Group upped their target price on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a neutral rating in a report on Wednesday, July 26th. Wells Fargo & Company reaffirmed a market perform rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Morgan Stanley reaffirmed an underweight rating and issued a $71.00 target price (up previously from $70.00) on shares of T. Rowe Price Group in a report on Tuesday, July 18th. Finally, UBS AG reaffirmed a sell rating and issued a $63.00 target price (up previously from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. T. Rowe Price Group currently has a consensus rating of Hold and a consensus target price of $77.90.

T. Rowe Price Group (NASDAQ TROW) traded up 0.27% during trading on Tuesday, reaching $82.87. The company had a trading volume of 314,178 shares. The firm has a market capitalization of $19.92 billion, a PE ratio of 14.23 and a beta of 1.24. T. Rowe Price Group has a 12-month low of $62.97 and a 12-month high of $85.42. The firm’s 50 day moving average price is $77.24 and its 200 day moving average price is $72.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group will post $5.69 earnings per share for the current year.

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In related news, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Oestreicher sold 10,394 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now owns 82,299 shares in the company, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its stake in shares of T. Rowe Price Group by 6.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,750 shares of the asset manager’s stock valued at $460,000 after buying an additional 400 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of T. Rowe Price Group by 16.6% in the first quarter. Gabelli Funds LLC now owns 516,000 shares of the asset manager’s stock valued at $35,165,000 after buying an additional 73,400 shares during the last quarter. Rothschild Investment Corp IL raised its stake in shares of T. Rowe Price Group by 42.0% in the first quarter. Rothschild Investment Corp IL now owns 5,750 shares of the asset manager’s stock valued at $392,000 after buying an additional 1,700 shares during the last quarter. British Columbia Investment Management Corp raised its stake in shares of T. Rowe Price Group by 47.4% in the first quarter. British Columbia Investment Management Corp now owns 256,180 shares of the asset manager’s stock valued at $17,459,000 after buying an additional 82,409 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of T. Rowe Price Group by 9.7% in the first quarter. Confluence Investment Management LLC now owns 162,924 shares of the asset manager’s stock valued at $11,103,000 after buying an additional 14,444 shares during the last quarter. Institutional investors own 71.49% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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