T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $130.00 at Deutsche Bank

Share on StockTwits

T. Rowe Price Group (NASDAQ:TROW) had its price objective lifted by Deutsche Bank from $129.00 to $130.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. They currently have a hold rating on the asset manager’s stock.

A number of other brokerages also recently commented on TROW. Wells Fargo & Co boosted their price objective on shares of T. Rowe Price Group from $146.00 to $152.00 and gave the stock an overweight rating in a research note on Thursday, January 30th. BidaskClub raised shares of T. Rowe Price Group from a hold rating to a buy rating in a research note on Friday, January 31st. BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group to in a research note on Thursday, January 30th. Bank of America boosted their price objective on shares of T. Rowe Price Group from $136.00 to $149.00 and gave the stock a buy rating in a research note on Thursday, January 30th. Finally, Citigroup boosted their price objective on shares of T. Rowe Price Group from $130.00 to $135.00 and gave the stock a neutral rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. T. Rowe Price Group currently has a consensus rating of Hold and an average price target of $127.18.

Shares of T. Rowe Price Group stock traded down $1.47 on Thursday, hitting $136.27. 1,056,664 shares of the company traded hands, compared to its average volume of 1,105,623. The stock’s 50 day moving average price is $132.87 and its 200-day moving average price is $119.98. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 0.02. T. Rowe Price Group has a 52 week low of $95.07 and a 52 week high of $139.82. The company has a market cap of $32.82 billion, a PE ratio of 15.65, a PEG ratio of 1.60 and a beta of 1.01.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. T. Rowe Price Group had a net margin of 37.69% and a return on equity of 29.45%. T. Rowe Price Group’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group will post 8.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.76. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.64%. T. Rowe Price Group’s dividend payout ratio is presently 37.67%.

In other news, VP W. Sharps Robert sold 12,400 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $123.70, for a total transaction of $1,533,880.00. Following the transaction, the vice president now directly owns 446,726 shares of the company’s stock, valued at $55,260,006.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Christopher D. Alderson sold 3,502 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $122.54, for a total value of $429,135.08. Following the transaction, the vice president now directly owns 400,505 shares in the company, valued at $49,077,882.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,700 shares of company stock worth $9,899,514. Insiders own 3.10% of the company’s stock.

Several hedge funds have recently modified their holdings of TROW. CSat Investment Advisory L.P. raised its position in shares of T. Rowe Price Group by 13.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 690 shares of the asset manager’s stock worth $84,000 after purchasing an additional 82 shares during the last quarter. Advisory Alpha LLC raised its position in shares of T. Rowe Price Group by 29.8% during the 4th quarter. Advisory Alpha LLC now owns 366 shares of the asset manager’s stock worth $48,000 after purchasing an additional 84 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Wedbush Securities Inc. now owns 3,994 shares of the asset manager’s stock worth $487,000 after purchasing an additional 86 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of T. Rowe Price Group by 52.7% during the 4th quarter. Penserra Capital Management LLC now owns 252 shares of the asset manager’s stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Finally, Zeke Capital Advisors LLC raised its position in shares of T. Rowe Price Group by 1.3% during the 4th quarter. Zeke Capital Advisors LLC now owns 6,952 shares of the asset manager’s stock worth $847,000 after purchasing an additional 90 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Buy Rating

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.