T. Rowe Price Group (NASDAQ:TROW) Upgraded by Zacks Research to Hold Rating

T. Rowe Price Group (NASDAQ:TROW) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on TROW. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Barclays increased their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. BMO Capital Markets increased their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. TD Cowen increased their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Trading Down 0.6%

T. Rowe Price Group stock opened at $102.41 on Wednesday. T. Rowe Price Group has a 12 month low of $85.22 and a 12 month high of $118.22. The stock’s 50 day moving average is $94.35 and its 200-day moving average is $99.21. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 4.50 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group will post 9.61 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Entropy Technologies LP raised its position in T. Rowe Price Group by 83.5% during the 1st quarter. Entropy Technologies LP now owns 40,123 shares of the asset manager’s stock worth $3,617,000 after purchasing an additional 18,263 shares during the last quarter. TCM Advisors LLC raised its position in T. Rowe Price Group by 16.6% during the 1st quarter. TCM Advisors LLC now owns 9,818 shares of the asset manager’s stock worth $885,000 after purchasing an additional 1,400 shares during the last quarter. Bridgewater Advisors Inc. bought a new position in T. Rowe Price Group during the 1st quarter worth $254,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of T. Rowe Price Group by 18.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 271,137 shares of the asset manager’s stock worth $24,440,000 after acquiring an additional 42,510 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter worth about $7,788,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile

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.