T. Rowe Price Group (NASDAQ:TROW – Get Free Report) had its target price upped by investment analysts at Deutsche Bank Aktiengesellschaft from $113.00 to $115.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 2.09% from the company’s current price.
TROW has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Evercore ISI upped their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $114.73.
Read Our Latest Stock Analysis on TROW
T. Rowe Price Group Price Performance
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.16 EPS for the current year.
Insider Transactions at T. Rowe Price Group
In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the firm’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 value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Institutional Trading of T. Rowe Price Group
Several hedge funds have recently added to or reduced their stakes in TROW. Norden Group LLC purchased a new position in T. Rowe Price Group in the first quarter valued at approximately $420,000. Tokio Marine Asset Management Co. Ltd. increased its stake in T. Rowe Price Group by 12.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,487 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 607 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in T. Rowe Price Group in the first quarter valued at approximately $121,000. Daiwa Securities Group Inc. increased its stake in T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock valued at $2,685,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds 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.
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