Zacks Research Upgrades T. Rowe Price Group (NASDAQ:TROW) to Strong-Buy

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

Several other analysts also recently weighed in on TROW. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. TD Cowen raised their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Evercore set a $121.00 price target on T. Rowe Price Group in a report on Friday, July 10th. Finally, BMO Capital Markets boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $103.42.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $118.87 on Wednesday. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $121.17. The business’s fifty day moving average price is $108.61 and its two-hundred day moving average price is $101.21. The firm has a market capitalization of $25.47 billion, a PE ratio of 12.74, a P/E/G ratio of 4.27 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.85 billion. During the same period last year, the business posted $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group will post 10.07 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in T. Rowe Price Group by 0.3% during the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after purchasing an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after buying an additional 143,109 shares in the last quarter. First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after buying an additional 413,317 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of T. Rowe Price Group by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after buying an additional 131,438 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group News Roundup

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price was added to multiple Zacks #1 (Strong Buy) lists on July 16, including momentum, value, and income screens, which can support bullish sentiment around the stock. Article Title
• Positive Sentiment: The company introduced an actively managed spot multi-token crypto ETF, signaling product innovation and a possible new growth avenue for assets and fee revenue. Article Title
• Positive Sentiment: Additional Zacks coverage also labeled TROW a strong buy for value and income investors, reinforcing the view that the shares may be attractively priced relative to fundamentals. Article Title
• Neutral Sentiment: Analysts and commentary continue to debate valuation after the AdvanCell deal, suggesting investors are still assessing whether the stock is fully valued at current levels. Article Title
• Negative Sentiment: Barclays reiterated a sell rating on T. Rowe Price, and recent commentary highlighted Q2 net outflows, which remain a concern for long-term asset growth and fee pressure. Article Title

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.