T. Rowe Price Group (NASDAQ:TROW) Given New $116.00 Price Target at Evercore ISI

T. Rowe Price Group (NASDAQ:TROW) had its price objective lifted by Evercore ISI from $115.00 to $116.00 in a report released on Monday,MarketScreener reports. Evercore ISI’s price target points to a potential upside of 8.09% from the company’s previous close.

Other analysts have also issued research reports about the company. Citigroup upped their target price on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Finally, BMO Capital Markets upped their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $107.54.

T. Rowe Price Group Stock Performance

TROW stock traded up $1.24 during midday trading on Monday, reaching $107.32. 1,236,431 shares of the company were exchanged, compared to its average volume of 1,893,710. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.32. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52. The stock’s 50-day simple moving average is $103.51 and its 200 day simple moving average is $104.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. On average, research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in T. Rowe Price Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after buying an additional 130,325 shares during the period. State Street Corp increased its stake in shares of T. Rowe Price Group by 1.5% during the second quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after acquiring an additional 211,647 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock worth $757,200,000 after purchasing an additional 140,385 shares in the last quarter. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after purchasing an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of T. Rowe Price Group by 0.3% during the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock valued at $332,415,000 after purchasing an additional 11,036 shares during the period. Institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.