Deutsche Bank AG Buys New Shares in T. Rowe Price Group, Inc. $TROW

Key Points

• Deutsche Bank AG purchased 982,685 shares of T. Rowe Price Group in the second quarter, worth approximately $111.7 million and representing about 0.46% of the company. Institutional investors collectively own 73.39% of TROW.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 in EPS and $1.91 billion in revenue, with revenue up 10.7% year over year. The company also declared a quarterly dividend of $1.30 per share, equivalent to a 4.6% annualized yield.
• Wall Street’s outlook remains cautious: analysts have a consensus “Reduce” rating and an average price target of $105.67, below the stock’s reported opening price of $112.23.

Deutsche Bank AG purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 982,685 shares of the asset manager's stock, valued at approximately $111,721,000. Deutsche Bank AG owned approximately 0.46% of T. Rowe Price Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Woodline Partners LP raised its stake in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock valued at $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth grew its holdings in T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after buying an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock valued at $149,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC purchased a new position in shares of T. Rowe Price Group in the second quarter worth $931,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock worth $3,208,000 after acquiring an additional 1,703 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $112.23 on Thursday. The firm has a market capitalization of $23.94 billion, a PE ratio of 11.26, a PEG ratio of 4.29 and a beta of 1.47. The stock's fifty day moving average is $113.83 and its 200 day moving average is $102.76. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. T. Rowe Price Group's quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group's payout ratio is currently 52.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TROW. Weiss Ratings upgraded shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. Evercore set a $118.00 target price on T. Rowe Price Group in a report on Monday, August 10th. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research report on Wednesday, July 29th. BMO Capital Markets raised their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $105.67.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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