Deutsche Bank Boosts T. Rowe Price Group (NASDAQ:TROW) Price Target to $149.00

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T. Rowe Price Group (NASDAQ:TROW) had its target price boosted by Deutsche Bank from $139.00 to $149.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the asset manager’s stock.

TROW has been the subject of a number of other reports. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $142.00 to $150.00 and gave the stock an equal weight rating in a report on Wednesday, July 15th. ValuEngine downgraded T. Rowe Price Group from a hold rating to a sell rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an underweight rating in a report on Wednesday, April 29th. Wells Fargo & Co increased their target price on T. Rowe Price Group from $115.00 to $125.00 in a report on Wednesday, April 29th. Finally, UBS Group reduced their price target on shares of T. Rowe Price Group from $137.00 to $100.00 and set a neutral rating for the company in a research report on Tuesday, April 7th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $116.17.

Shares of T. Rowe Price Group stock opened at $138.10 on Thursday. The stock’s 50-day moving average is $127.11 and its 200 day moving average is $119.76. T. Rowe Price Group has a one year low of $82.51 and a one year high of $139.82. The firm has a market cap of $31.42 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.24 and a quick ratio of 4.55.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. T. Rowe Price Group had a return on equity of 29.65% and a net margin of 35.05%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. On average, sell-side analysts expect that T. Rowe Price Group will post 8.3 EPS for the current fiscal year.

In other news, VP W. Sharps Robert sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total value of $411,250.00. Following the completion of the transaction, the vice president now directly owns 476,176 shares of the company’s stock, valued at $55,950,680. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 1,851 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $115.34, for a total value of $213,494.34. Following the sale, the director now directly owns 15,955 shares of the company’s stock, valued at $1,840,249.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,851 shares of company stock valued at $1,047,719. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROW. Tarbox Family Office Inc. boosted its holdings in shares of T. Rowe Price Group by 423.1% in the 2nd quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock worth $25,000 after buying an additional 165 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in T. Rowe Price Group in the first quarter valued at about $28,000. Shine Investment Advisory Services Inc. grew its position in shares of T. Rowe Price Group by 248.4% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 231 shares during the period. Pearl River Capital LLC purchased a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $39,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of T. Rowe Price Group by 36.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 70.63% 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.

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

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