Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group (NASDAQ:TROW) had its price objective increased by Deutsche Bank Aktiengesellschaft from $115.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Other equities analysts have also issued reports about the stock. Barclays raised their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Evercore ISI lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $115.55.

T. Rowe Price Group Stock Up 1.1 %

Shares of NASDAQ:TROW opened at $119.80 on Monday. T. Rowe Price Group has a 12-month low of $96.46 and a 12-month high of $122.27. The business has a 50 day moving average of $110.11 and a 200-day moving average of $112.06. The stock has a market cap of $26.61 billion, a PE ratio of 13.11, a P/E/G ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. Equities research analysts expect that T. Rowe Price Group will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the last quarter. Victory Capital Management Inc. increased its position in T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after purchasing an additional 124,686 shares during the period. American Century Companies Inc. raised its holdings in T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares during the last quarter. Provident Trust Co. lifted its position in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after purchasing an additional 7,905 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares during the last quarter. 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.