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

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

Other equities analysts have also issued reports about the company. Evercore ISI reduced their target price on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Bank of America raised their price objective 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. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Finally, TD Cowen boosted their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Stock Performance

TROW stock opened at $103.89 on Wednesday. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $118.89. The stock’s 50 day simple moving average is $102.96 and its 200 day simple moving average is $102.66. The company has a market cap of $22.67 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 3.43 and a beta of 1.53.

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

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction dated Wednesday, December 10th. The stock was 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 $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Groupama Asset Managment lifted its holdings in shares of T. Rowe Price Group by 188.2% in the 3rd quarter. Groupama Asset Managment now owns 9,293 shares of the asset manager’s stock worth $954,000 after acquiring an additional 6,069 shares during the last quarter. Prana Capital Management LP purchased a new position in T. Rowe Price Group during the 3rd quarter valued at $4,939,000. CIBC Bancorp USA Inc. bought a new position in T. Rowe Price Group in the 3rd quarter valued at $3,114,000. Achmea Investment Management B.V. purchased a new stake in T. Rowe Price Group in the third quarter worth $25,280,000. Finally, WBI Investments LLC bought a new stake in shares of T. Rowe Price Group during the third quarter worth $698,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.