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 hoisted by analysts at Deutsche Bank Aktiengesellschaft from $113.00 to $115.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 0.42% from the company’s current price.

A number of other research analysts have also recently issued reports on TROW. Evercore ISI lifted their price objective on 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. Wells Fargo & Company lifted their price target 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. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday. TD Cowen reduced their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $114.73.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $114.52 on Monday. T. Rowe Price Group has a twelve month low of $90.02 and a twelve month high of $122.27. The stock has a market cap of $25.49 billion, a PE ratio of 12.53, a PEG ratio of 1.75 and a beta of 1.41. The firm has a 50-day simple moving average of $108.52 and a 200 day simple moving average of $111.75.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.46%. The firm 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 business posted $2.17 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $1,230,772.27. Following the completion of 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 is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, 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. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Envestnet Portfolio Solutions Inc. raised its holdings in shares of T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after acquiring an additional 22,533 shares during the period. Forsta AP Fonden lifted its holdings in shares of T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC lifted its stake in T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of T. Rowe Price Group by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after acquiring an additional 6,780 shares in the last quarter. 73.39% of the stock is currently owned by 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.