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

T. Rowe Price Group (NASDAQ:TROW) had its target price upped by investment analysts at Deutsche Bank Aktiengesellschaft from $112.00 to $113.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 11.09% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Citigroup upped their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Finally, Bank of America upped their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $109.38.

T. Rowe Price Group Trading Down 1.9%

TROW opened at $101.72 on Friday. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The business’s fifty day simple moving average is $104.02 and its 200-day simple moving average is $101.31.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group will post 9.29 EPS 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 that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its position in shares of 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 valued at $25,000 after acquiring an additional 100 shares during the period. Zions Bancorporation National Association UT purchased a new stake in T. Rowe Price Group during the 1st quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group in the third quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the period. 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 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.