Deutsche Bank AG Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Deutsche Bank AG raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 847,791 shares of the asset manager’s stock after purchasing an additional 47,700 shares during the quarter. Deutsche Bank AG’s holdings in T. Rowe Price Group were worth $167,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aspire Private Capital LLC boosted its holdings in T. Rowe Price Group by 812.5% in the 1st quarter. Aspire Private Capital LLC now owns 146 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $29,000. Stonebridge Capital Advisors LLC purchased a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $38,000. Red Door Wealth Management LLC acquired a new position in T. Rowe Price Group in the 2nd quarter valued at $38,000. Finally, Concord Wealth Partners raised its holdings in T. Rowe Price Group by 4,720.0% in the 1st quarter. Concord Wealth Partners now owns 241 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 236 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors.

TROW stock opened at $206.93 on Thursday. The company has a market cap of $46.96 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.86 and a beta of 1.18. The company has a 50 day moving average of $212.48 and a two-hundred day moving average of $195.28. T. Rowe Price Group, Inc. has a 12-month low of $121.58 and a 12-month high of $224.55.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, July 29th. The asset manager reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.11. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.91 billion. T. Rowe Price Group had a net margin of 41.93% and a return on equity of 35.82%. As a group, analysts expect that T. Rowe Price Group, Inc. will post 12.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be issued a dividend of $1.08 per share. The ex-dividend date is Tuesday, September 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.09%. T. Rowe Price Group’s dividend payout ratio is currently 45.09%.

In related news, VP Sebastien Page sold 7,667 shares of T. Rowe Price Group stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $220.95, for a total value of $1,694,023.65. Following the transaction, the vice president now owns 35,235 shares in the company, valued at approximately $7,785,173.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Stromberg sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $211.17, for a total transaction of $1,689,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,817 shares of company stock worth $3,622,239 in the last 90 days. 1.00% of the stock is owned by insiders.

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $171.00 to $185.00 and gave the stock a “hold” rating in a report on Monday, July 12th. They noted that the move was a valuation call. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a research report on Thursday, August 12th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $208.00 to $211.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. UBS Group increased their price objective on shares of T. Rowe Price Group from $183.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 8th. Finally, Citigroup raised their price target on shares of T. Rowe Price Group from $137.00 to $145.00 and gave the company a “sell” rating in a research note on Monday, July 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $183.62.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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