Morgan Stanley Keeps a Hold Rating on T Rowe Price (TROW)


In a report released today, Michael Cyprys from Morgan Stanley maintained a Hold rating on T Rowe Price (TROW), with a price target of $115.00. The company’s shares closed last Friday at $111.52.

According to TipRanks.com, Cyprys is a 4-star analyst with an average return of 4.3% and a 55.3% success rate. Cyprys covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Virtus Investment Partners, and Apollo Global Management.

Currently, the analyst consensus on T Rowe Price is a Hold with an average price target of $110.50, implying a -5.5% downside from current levels. In a report issued on April 29, Citigroup also maintained a Hold rating on the stock with a $112.00 price target.

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Based on T Rowe Price’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.46 billion and net profit of $343 million. In comparison, last year the company earned revenue of $1.33 billion and had a net profit of $513 million.

Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TROW in relation to earlier this year. Most recently, in February 2020, Christopher Alderson, the VP of TROW sold 56,998 shares for a total of $7,837,225.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

T. Rowe Price Group, Inc. is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. 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. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.

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