T. Rowe Price Group’s (TROW) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a research report report published on Thursday,Benzinga reports. They currently have a $113.00 price target on the asset manager’s stock, up from their previous price target of $111.00.

Other research analysts also recently issued reports about the company. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $111.44 on Thursday. The company’s 50-day simple moving average is $116.31 and its 200-day simple moving average is $112.63. T. Rowe Price Group has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock has a market capitalization of $24.76 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. During the same quarter last year, the company earned $1.72 earnings per share. On average, research analysts forecast that T. Rowe Price Group will post 9.42 EPS for the current year.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TROW. International Assets Investment Management LLC raised its stake in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after buying an additional 1,054,461 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in T. Rowe Price Group in the 4th quarter valued at $32,332,000. Finally, Provident Trust Co. grew its holdings in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.