BMO Capital Markets Issues Positive Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by equities researchers at BMO Capital Markets from $98.00 to $110.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 6.71% from the company’s previous close.

Several other research analysts have also commented on the company. Zacks Research lowered T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday. Finally, Argus upgraded shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Ten analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $99.54.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $103.08 on Monday. The company has a market cap of $22.43 billion, a PE ratio of 11.05, a P/E/G ratio of 4.53 and a beta of 1.51. The firm’s 50 day moving average price is $92.87 and its 200-day moving average price is $99.19. T. Rowe Price Group has a 52-week low of $85.22 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.23 earnings per share. On average, analysts forecast that T. Rowe Price Group will post 9.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC increased its holdings in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Root Financial Partners LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in T. Rowe Price Group during the 4th quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC raised its holdings in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Institutional investors and hedge funds 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.