Deutsche Bank Aktiengesellschaft Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $106.00

T. Rowe Price Group (NASDAQ:TROW) had its price target lowered by Deutsche Bank Aktiengesellschaft from $113.00 to $106.00 in a report published on Wednesday,MarketScreener reports. The firm currently has a hold rating on the asset manager’s stock.

Other analysts also recently issued reports about the company. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Barclays raised their price objective on T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th. TD Cowen upped their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of 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. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $108.31.

T. Rowe Price Group Trading Down 0.0%

NASDAQ:TROW opened at $103.28 on Wednesday. The stock has a market cap of $22.54 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53. The stock’s 50-day moving average is $102.95 and its 200-day moving average is $102.74. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $2.57 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,090 shares of the business’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 transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 137.7% during the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after acquiring an additional 1,993,920 shares during the last quarter. Norges Bank bought a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $82,756,000. Caisse de depot et placement du Quebec boosted its holdings in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after acquiring an additional 584,949 shares in the last quarter. ARGA Investment Management LP raised its stake in T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after buying an additional 464,949 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group during the second quarter valued at $37,722,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company 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.