T. Rowe Price Group (TROW) Price Target Raised to $94.00 at Deutsche Bank

Share on StockTwits

T. Rowe Price Group (NASDAQ:TROW) had its price objective increased by equities researchers at Deutsche Bank from $91.00 to $94.00 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the asset manager’s stock. Deutsche Bank’s price objective indicates a potential downside of 8.24% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Goldman Sachs Group lowered shares of T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Friday, January 4th. Morgan Stanley set a $101.00 target price on shares of T. Rowe Price Group and gave the stock a “hold” rating in a research note on Friday, February 8th. Bank of America reaffirmed a “buy” rating and issued a $108.00 target price (down from $125.00) on shares of T. Rowe Price Group in a research note on Thursday, December 6th. Citigroup reduced their target price on shares of T. Rowe Price Group from $105.00 to $101.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Finally, BidaskClub raised shares of T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and an average target price of $102.73.

Shares of NASDAQ TROW opened at $102.44 on Friday. The firm has a market capitalization of $24.20 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.92 and a beta of 1.04. T. Rowe Price Group has a 1-year low of $84.59 and a 1-year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.25). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. T. Rowe Price Group’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Analysts predict that T. Rowe Price Group will post 6.27 earnings per share for the current year.

In other news, VP W. Sharps Robert sold 2,617 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total transaction of $263,610.41. Following the completion of the transaction, the vice president now directly owns 448,651 shares in the company, valued at approximately $45,192,615.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher D. Alderson sold 104,465 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the transaction, the vice president now owns 401,164 shares of the company’s stock, valued at $38,888,838.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,082 shares of company stock valued at $11,361,948. Company insiders own 3.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Sowell Financial Services LLC boosted its stake in shares of T. Rowe Price Group by 22.4% during the 4th quarter. Sowell Financial Services LLC now owns 2,811 shares of the asset manager’s stock worth $260,000 after buying an additional 515 shares during the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $216,223,000. Griffin Asset Management Inc. raised its holdings in shares of T. Rowe Price Group by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 15,594 shares of the asset manager’s stock valued at $1,440,000 after purchasing an additional 126 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $439,000. Finally, Lcnb Corp raised its holdings in shares of T. Rowe Price Group by 2.6% in the 4th quarter. Lcnb Corp now owns 4,920 shares of the asset manager’s stock valued at $454,000 after purchasing an additional 124 shares during the period. Institutional investors own 72.42% of the company’s stock.

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.

Further Reading: What are municipal bonds?

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.