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

T. Rowe Price Group (NASDAQ:TROW) had its price objective reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $114.00 to $112.00 in a report issued on Monday,MarketScreener reports. The firm presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 11.15% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on TROW. Morgan Stanley upped their price objective on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Evercore ISI upped their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $100.76 on Monday. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 5.61 and a beta of 1.50. The stock’s 50 day moving average price is $104.96 and its two-hundred day moving average price is $100.43. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $125.81.

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

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’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 owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of hedge funds have recently bought and sold shares of TROW. Wayfinding Financial LLC bought a new stake in T. Rowe Price Group during the first quarter worth about $43,000. World Investment Advisors lifted its stake in T. Rowe Price Group by 34.1% during the first quarter. World Investment Advisors now owns 3,558 shares of the asset manager’s stock worth $327,000 after purchasing an additional 904 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in T. Rowe Price Group by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 1,716,724 shares of the asset manager’s stock worth $157,715,000 after purchasing an additional 26,395 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in T. Rowe Price Group by 6.3% during the first quarter. Concurrent Investment Advisors LLC now owns 3,949 shares of the asset manager’s stock worth $363,000 after purchasing an additional 235 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. 73.39% of the stock is currently owned by 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.