Deutsche Bank Aktiengesellschaft Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $106.00

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by Deutsche Bank Aktiengesellschaft from $113.00 to $106.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 2.03% from the company’s current price.

A number of other equities analysts also recently commented on TROW. Jefferies Financial Group boosted their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Barclays boosted their target price on shares of T. Rowe Price Group from $101.00 to $102.00 and gave the stock an “underweight” rating in a research report on Friday, December 12th. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. TD Cowen upped their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Finally, Citigroup lifted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Trading Down 0.0%

TROW opened at $103.89 on Wednesday. The company has a market capitalization of $22.67 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 3.43 and a beta of 1.53. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $118.89. The business’s fifty day simple moving average is $102.96 and its 200-day simple moving average is $102.66.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.57 EPS. On average, equities research analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of large investors have recently added to or reduced their stakes in the stock. Candriam S.C.A. lifted its position in T. Rowe Price Group by 20.4% in the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock valued at $2,985,000 after acquiring an additional 5,236 shares during the last quarter. Amundi lifted its holdings in shares of T. Rowe Price Group by 16.9% in the 2nd quarter. Amundi now owns 1,607,616 shares of the asset manager’s stock valued at $153,714,000 after purchasing an additional 232,361 shares during the last quarter. Kestra Investment Management LLC boosted its position in shares of T. Rowe Price Group by 268.4% in the 1st quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock valued at $3,252,000 after purchasing an additional 25,793 shares during the period. Promethium Advisors LLC grew its stake in T. Rowe Price Group by 45.2% during the 1st quarter. Promethium Advisors LLC now owns 46,460 shares of the asset manager’s stock worth $4,268,000 after buying an additional 14,473 shares during the last quarter. Finally, Patton Fund Management Inc. acquired a new position in T. Rowe Price Group during the second quarter worth approximately $240,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.