Morgan Stanley Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $160.00
T. Rowe Price Group (NASDAQ:TROW) had its price target raised by Morgan Stanley from $150.00 to $160.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective suggests a potential upside of 15.86% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Wells Fargo & Co lifted their price target on shares of T. Rowe Price Group from $72.00 to $78.00 in a research note on Thursday. Deutsche Bank lifted their target price on T. Rowe Price Group from $139.00 to $149.00 and gave the company a “hold” rating in a research report on Thursday. BMO Capital Markets upped their price target on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. UBS Group lowered their price objective on T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Credit Suisse Group boosted their price objective on T. Rowe Price Group from $135.00 to $147.00 in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $116.17.
TROW stock opened at $138.10 on Friday. The company has a market cap of $31.42 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.24 and a quick ratio of 4.55. T. Rowe Price Group has a 1 year low of $82.51 and a 1 year high of $139.82. The stock’s fifty day moving average price is $127.11 and its 200-day moving average price is $119.76.
In other news, Director Mary K. Bush sold 1,851 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total value of $213,494.34. Following the completion of the transaction, the director now directly owns 15,955 shares in the company, valued at $1,840,249.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David Oestreicher sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $120.85, for a total transaction of $422,975.00. Following the transaction, the vice president now directly owns 97,673 shares of the company’s stock, valued at $11,803,782.05. The disclosure for this sale can be found here. Insiders sold 8,851 shares of company stock worth $1,047,719 in the last quarter. 1.00% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Tarbox Family Office Inc. raised its position in T. Rowe Price Group by 423.1% during the second quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 165 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 1st quarter valued at approximately $28,000. Shine Investment Advisory Services Inc. lifted its stake in shares of T. Rowe Price Group by 248.4% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 231 shares during the period. Pearl River Capital LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $39,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in T. Rowe Price Group by 36.3% during the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after buying an additional 106 shares during the last quarter. 70.63% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Company Profile
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.
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