Deutsche Bank AG Acquires 115,422 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Deutsche Bank AG lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,006,698 shares of the asset manager's stock after purchasing an additional 115,422 shares during the period. Deutsche Bank AG owned approximately 0.45% of T. Rowe Price Group worth $113,847,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nilsine Partners LLC grew its stake in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock valued at $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. raised its stake in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after buying an additional 7,503 shares during the period. Amundi grew its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares during the period. Schroder Investment Management Group increased its holdings in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock worth $25,229,000 after acquiring an additional 73,307 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after purchasing an additional 20,062 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 0.1%

Shares of TROW stock traded up $0.13 during trading hours on Wednesday, hitting $97.32. 1,466,657 shares of the company's stock were exchanged, compared to its average volume of 1,484,102. The company has a market capitalization of $21.44 billion, a PE ratio of 10.62, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The business's 50 day simple moving average is $90.51 and its 200-day simple moving average is $106.06.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the business posted $2.38 earnings per share. The firm's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Bank of America decreased their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $94.09.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.