Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for T. Rowe Price Group (NASDAQ:TROW) Stock

T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $109.00 to $114.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 12.39% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. BMO Capital Markets started coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $104.69.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $101.43 on Thursday. The stock has a market capitalization of $22.29 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 6.84 and a beta of 1.50. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81. The business has a fifty day moving average price of $105.82 and a 200-day moving average price of $98.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 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 down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.26 EPS. On average, equities research analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors have recently bought and sold shares of the company. TFG Advisers LLC boosted its holdings in T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after buying an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Bill Few Associates Inc. boosted its holdings in T. Rowe Price Group by 4.3% in the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after buying an additional 107 shares during the last quarter. Cooper Financial Group boosted its holdings in T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after buying an additional 110 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in 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 worth $34,000 after buying an additional 113 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.