T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $112.00 at Deutsche Bank Aktiengesellschaft

T. Rowe Price Group (NASDAQ:TROW) had its target price lowered by Deutsche Bank Aktiengesellschaft from $114.00 to $112.00 in a research note published on Monday morning,MarketScreener reports. The firm currently has a hold rating on the asset manager’s stock.

A number of other research analysts have also weighed in on the company. TD Cowen lifted their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday. Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $101.64 on Monday. The company has a 50 day simple moving average of $104.96 and a 200 day simple moving average of $100.43. The firm has a market cap of $22.33 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $2.57 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on 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 sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the first quarter worth about $27,000. Root Financial Partners LLC purchased a new position in T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its position in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.