Deutsche Bank Aktiengesellschaft Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $120.00

T. Rowe Price Group (NASDAQ:TROW) had its price target upped by Deutsche Bank Aktiengesellschaft from $115.00 to $120.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays lifted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Trading Up 1.1 %

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

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 analysts’ consensus estimates 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 company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. Sell-side analysts predict that T. Rowe Price Group will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.14%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Activity

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

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently bought and sold shares of TROW. Iron Horse Wealth Management LLC raised its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group during the second quarter valued at about $29,000. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group in the second quarter valued at about $36,000. Finally, True Wealth Design LLC bought a new position in T. Rowe Price Group during the 3rd quarter valued at approximately $37,000. 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.