T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $113.00 at Deutsche Bank Aktiengesellschaft

T. Rowe Price Group (NASDAQ:TROW) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $112.00 to $113.00 in a report released on Friday morning,MarketScreener reports. The brokerage currently has a hold rating on the asset manager’s stock.

TROW has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Bank of America increased their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective for the company. Finally, Citigroup upped their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $109.38.

T. Rowe Price Group Trading Down 1.9%

Shares of NASDAQ TROW traded down $2.00 during midday trading on Friday, hitting $101.72. The company’s stock had a trading volume of 1,544,545 shares, compared to its average volume of 1,728,119. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 5.61 and a beta of 1.51. The stock has a fifty day moving average price of $104.02 and a 200 day moving average price of $101.23. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 EPS. On average, equities research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at $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 is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. boosted its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group in the first quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group in the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC grew 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 valued at $31,000 after acquiring an additional 174 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.