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

T. Rowe Price Group (NASDAQ:TROW) had its price target lowered by Deutsche Bank Aktiengesellschaft from $122.00 to $112.00 in a report published on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an underweight rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an in-line rating for the company in a report on Tuesday, April 30th. StockNews.com upgraded shares of T. Rowe Price Group from a hold rating to a buy rating in a report on Wednesday, July 10th. Finally, Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a neutral rating in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of Hold and a consensus price target of $114.56.

T. Rowe Price Group Trading Down 1.9 %

NASDAQ TROW opened at $112.03 on Monday. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $122.27. The company has a fifty day simple moving average of $116.13 and a 200 day simple moving average of $114.17. The company has a market cap of $24.94 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.74 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.02 earnings per share. Equities research analysts forecast that T. Rowe Price Group will post 9.01 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of large investors have recently bought and sold shares of TROW. Massmutual Trust Co. FSB ADV boosted its stake in T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares in the last quarter. MCF Advisors LLC grew its holdings in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. increased its position in T. Rowe Price Group by 4.9% in the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares in the last quarter. Finally, Caprock Group LLC raised its stake in shares of T. Rowe Price Group by 4.7% in the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after acquiring an additional 101 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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.