Morgan Stanley Raises T. Rowe (TROW) Price Price Forecast as Asset Managers Gain Favor

T. Rowe Price Group, Inc. (NASDAQ:TROW) is included among the 10 Best Dividend Stocks to Buy for Passive Income.

On June 26, Morgan Stanley raised its price recommendation on T. Rowe Price Group, Inc. (NASDAQ:TROW) to $109 from $105. It reiterated an Equal Weight rating on the stock. The firm increased its second-quarter EPS estimates by an average of 7.5%. It also said it would be a buyer of traditional asset managers ahead of Q2 results, expecting broad-based earnings beats supported by a favorable market backdrop and improving fund flows.

Earlier, on June 10, the company reported its May results. Assets under management (AUM) increased to $1.89 trillion from $1.83 trillion in April. It also recorded net inflows of $3.3 billion during the month. This was helped by a large contribution to its target date retirement funds.

Growth came mainly from its equity and multi-asset strategies. Equity assets rose to $919 billion, while multi-asset assets increased to $691 billion. The firm’s target date retirement funds also grew to $623 billion, reflecting continued strength in its retirement-focused business.

T. Rowe Price Group, Inc. (NASDAQ:TROW) is a financial services holding company that provides global investment advisory services. It offers a wide range of investment solutions across equity, fixed income, multi-asset, and alternative strategies, serving individual investors, financial advisors, institutions, and retirement plan sponsors.

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