T. Rowe Price (TROW) Price Target Cut to $114.00 by Analysts at Deutsche Bank

T. Rowe Price (NASDAQ:TROW) had its price target decreased by Deutsche Bank from $116.00 to $114.00 in a research note issued to investors on Friday. Deutsche Bank currently has a hold rating on the asset manager’s stock.

A number of other research analysts have also recently commented on TROW. Zacks Investment Research upgraded T. Rowe Price from a hold rating to a buy rating and set a $118.00 target price for the company in a research note on Wednesday, December 27th. Bank of America upgraded T. Rowe Price from a neutral rating to a buy rating and raised their target price for the company from $113.00 to $125.00 in a research note on Monday, January 8th. UBS upgraded T. Rowe Price from a sell rating to a neutral rating and raised their target price for the company from $75.00 to $110.00 in a research note on Tuesday, January 9th. BidaskClub cut T. Rowe Price from a strong-buy rating to a buy rating in a research note on Wednesday, January 31st. Finally, ValuEngine upgraded T. Rowe Price from a hold rating to a buy rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $110.80.

Shares of TROW traded down $3.15 on Friday, reaching $104.38. The stock had a trading volume of 1,509,739 shares, compared to its average volume of 1,863,541. The stock has a market cap of $26,301.57, a PE ratio of 19.22, a PEG ratio of 1.22 and a beta of 1.21. T. Rowe Price has a 12-month low of $67.62 and a 12-month high of $120.07.

T. Rowe Price (NASDAQ:TROW) last released its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. sell-side analysts predict that T. Rowe Price will post 7.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.70 per share. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a yield of 2.68%. T. Rowe Price’s payout ratio is presently 51.57%.

A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in T. Rowe Price by 50.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after buying an additional 491 shares during the last quarter. BB&T Securities LLC raised its stake in shares of T. Rowe Price by 2.7% in the fourth quarter. BB&T Securities LLC now owns 18,973 shares of the asset manager’s stock worth $1,990,000 after purchasing an additional 492 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of T. Rowe Price by 30.9% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock worth $220,000 after purchasing an additional 496 shares during the last quarter. Covenant Asset Management LLC raised its stake in shares of T. Rowe Price by 10.0% in the fourth quarter. Covenant Asset Management LLC now owns 5,485 shares of the asset manager’s stock worth $576,000 after purchasing an additional 500 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of T. Rowe Price by 2.5% in the fourth quarter. GHP Investment Advisors Inc. now owns 22,862 shares of the asset manager’s stock worth $2,399,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 72.84% of the company’s stock.

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T. Rowe Price 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.

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

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