T. Rowe Price Group, Inc. (NASDAQ:TROW) Price Target Raised to $90.00 at Credit Suisse Group

T. Rowe Price Group, Inc. (NASDAQ:TROW) had its price objective increased by stock analysts at Credit Suisse Group from $70.00 to $90.00 in a report issued on Wednesday. The brokerage currently has a “neutral” rating on the asset manager’s stock. Credit Suisse Group’s price target would suggest a potential upside of 7.36% from the company’s current price.

Several other research analysts also recently issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $71.00 price target (up previously from $70.00) on shares of T. Rowe Price Group in a research note on Tuesday, July 18th. UBS AG reissued a “sell” rating and issued a $63.00 target price (up previously from $62.00) on shares of T. Rowe Price Group in a research note on Friday, July 14th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday, June 28th. Jefferies Group LLC set a $83.00 target price on shares of T. Rowe Price Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, BidaskClub raised shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $75.09.

Shares of T. Rowe Price Group (NASDAQ:TROW) traded up 1.51% during midday trading on Wednesday, hitting $85.10. 1,182,884 shares of the stock were exchanged. T. Rowe Price Group has a 12-month low of $62.97 and a 12-month high of $85.42. The firm has a market cap of $20.53 billion, a PE ratio of 16.67 and a beta of 1.22. The firm has a 50-day moving average price of $75.37 and a 200 day moving average price of $71.86.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. Analysts predict that T. Rowe Price Group will post $5.48 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of TROW. FMR LLC increased its position in T. Rowe Price Group by 135.4% in the fourth quarter. FMR LLC now owns 267,385 shares of the asset manager’s stock worth $20,123,000 after buying an additional 153,787 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of T. Rowe Price Group by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,558 shares of the asset manager’s stock valued at $644,000 after buying an additional 430 shares during the last quarter. Hendley & Co. Inc. increased its position in shares of T. Rowe Price Group by 1.0% in the fourth quarter. Hendley & Co. Inc. now owns 16,337 shares of the asset manager’s stock valued at $1,230,000 after buying an additional 165 shares during the last quarter. Teachers Advisors LLC increased its position in shares of T. Rowe Price Group by 73.1% in the fourth quarter. Teachers Advisors LLC now owns 602,281 shares of the asset manager’s stock valued at $45,328,000 after buying an additional 254,363 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $1,329,000. 71.25% of the stock is owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.