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

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

Several other analysts also recently weighed in on the company. Morgan Stanley upped their price target 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. Bank of America increased their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. TD Cowen increased their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Stock Performance

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

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

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Columbia Asset Management boosted its position in shares of T. Rowe Price Group by 9.8% during the third quarter. Columbia Asset Management now owns 16,434 shares of the asset manager’s stock valued at $1,687,000 after buying an additional 1,470 shares during the period. Howard Capital Management Inc. raised its stake in shares of T. Rowe Price Group by 7.3% during the third quarter. Howard Capital Management Inc. now owns 5,382 shares of the asset manager’s stock valued at $552,000 after acquiring an additional 366 shares in the last quarter. Berman McAleer LLC bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $349,000. National Pension Service raised its stake in shares of T. Rowe Price Group by 5.1% during the third quarter. National Pension Service now owns 423,327 shares of the asset manager’s stock valued at $43,450,000 after acquiring an additional 20,409 shares in the last quarter. Finally, Winnow Wealth LLC raised its stake in shares of T. Rowe Price Group by 9,335.0% during the third quarter. Winnow Wealth LLC now owns 9,435 shares of the asset manager’s stock valued at $972,000 after acquiring an additional 9,335 shares in the last quarter. 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.