Deutsche Bank Trims T. Rowe Price (TROW) Target Price to $114.00

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

TROW has been the subject of a number of other reports. Bank of America raised shares of T. Rowe Price from a neutral rating to a buy rating and increased their price target for the stock from $113.00 to $125.00 in a research note on Monday, January 8th. BidaskClub raised shares of T. Rowe Price from a buy rating to a strong-buy rating in a research note on Tuesday, February 27th. Credit Suisse Group increased their price target on shares of T. Rowe Price from $123.00 to $128.00 and gave the stock a neutral rating in a research note on Thursday. Morgan Stanley set a $113.00 price objective on shares of T. Rowe Price and gave the stock a hold rating in a report on Thursday, February 22nd. Finally, UBS upgraded shares of T. Rowe Price from a sell rating to a neutral rating and upped their price objective for the stock from $75.00 to $110.00 in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price presently has a consensus rating of Hold and an average price target of $110.80.

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TROW stock opened at $104.38 on Friday. T. Rowe Price has a 1 year low of $67.62 and a 1 year high of $120.07. The stock has a market capitalization of $25,531.14, a P/E ratio of 19.22, a P/E/G ratio of 1.18 and a beta of 1.21.

T. Rowe Price (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.04. T. Rowe Price had a net margin of 31.07% and a return on equity of 25.30%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. T. Rowe Price’s revenue was up 17.9% on a year-over-year basis. analysts anticipate that T. Rowe Price will post 7.12 EPS for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in TROW. Tower Research Capital LLC TRC grew its holdings in T. Rowe Price by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after purchasing an additional 491 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of T. Rowe Price during the third quarter valued at approximately $202,000. Stock Yards Bank & Trust Co. purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at approximately $205,000. Shelton Capital Management purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at approximately $206,000. Finally, Checchi Capital Advisers LLC purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 72.84% of the company’s stock.

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About T. Rowe Price

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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