T. Rowe Price Group (NASDAQ:TROW) Given New $120.00 Price Target at Deutsche Bank Aktiengesellschaft

T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $115.00 to $120.00 in a report issued on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Trading Up 0.4 %

Shares of T. Rowe Price Group stock opened at $118.49 on Monday. The company has a market capitalization of $26.32 billion, a PE ratio of 12.96, a PEG ratio of 1.72 and a beta of 1.41. T. Rowe Price Group has a 12 month low of $94.47 and a 12 month high of $122.27. The stock’s fifty day simple moving average is $109.83 and its 200 day simple moving average is $112.02.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. Analysts predict that T. Rowe Price Group will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Iron Horse Wealth Management LLC increased its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new position in T. Rowe Price Group during the second quarter valued at $29,000. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Finally, Versant Capital Management Inc grew its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.