Deutsche Bank AG Takes Position in T. Rowe Price Group, Inc. $TROW

Deutsche Bank AG purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 982,685 shares of the asset manager’s stock, valued at approximately $111,721,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Capital Partners LLC boosted its holdings in T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after acquiring an additional 93 shares during the period. Kesler Norman & Wride LLC grew its position in T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after acquiring an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund increased its stake in T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC lifted its position in shares of T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after purchasing an additional 102 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $112.23 on Thursday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $23.94 billion, a P/E ratio of 11.26, a P/E/G ratio of 4.29 and a beta of 1.47. The firm has a 50-day simple moving average of $113.83 and a 200-day simple moving average of $102.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $2.24 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, TD Cowen raised their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.