T. Rowe Price Group Inc (TROW) is Downgraded by Deutsche Bank to Hold, Lowers Price Target to $ 75

T. Rowe Price Group Inc (TROW) was Downgraded by Deutsche Bank to ” Hold” while Lowering the Price Target of the company shares to $ 75 from a previous price target of $79 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Jul 20, 2016.

Many Wall Street Analysts have commented on T. Rowe Price Group Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 78 from a previous price target of $74 .Company shares were Reiterated by UBS on Apr 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 79 from a previous price target of $73 .

On the company’s financial health, T. Rowe Price Group Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.03. The company had revenue of $994.10 million for the quarter, compared to analysts expectations of $1000.85 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.13 EPS.

T. Rowe Price Group Inc closed down -0.06 points or -0.08% at $74.59 with 10,67,378 shares getting traded on Monday. Post opening the session at $74.67, the shares hit an intraday low of $74.42 and an intraday high of $74.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 29, 2016, James A C Kennedy (director) sold 50,000 shares at $77.75 per share price. According to the SEC, on Mar 7, 2016, Donald B Jr Hebb (director) sold 4,163 shares at $72.63 per share price. On Mar 1, 2016, Anne M Whittemore (director) sold 8,326 shares at $69.28 per share price, according to the Form-4 filing with the securities and exchange commission.

T. Rowe Price Group Inc. is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. Its assets under management are accumulated from a client base across four primary distribution channels: third-party financial intermediaries that distribute its managed investment portfolios in the United States and other countries; individual United States investors on a direct basis; the United States defined contribution retirement plans and institutional investors globally. The assets that it manages include a range of the United States and international stock blended asset bond and money market mutual funds and other investment portfolios. It offers advisory services and a distribution management service. It provides administrative services as ancillary services to its investment advisory clients.

T. Rowe Price Group Inc

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