T. Rowe Price Group Inc. (NASDAQ:TROW) was downgraded by equities research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $75.00 price objective on the stock, down from their previous price objective of $79.00. Deutsche Bank AG’s target price indicates a potential upside of 1.24% from the company’s previous close.
In related news, Director James A. C. Kennedy sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $77.75, for a total value of $3,887,500.00. Following the completion of the sale, the director now owns 1,340,183 shares of the company’s stock, valued at $104,199,228.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
T. Rowe Price Group (NASDAQ:TROW) opened at 74.08 on Wednesday. The firm has a market cap of $18.39 billion and a P/E ratio of 15.93. The stock has a 50 day moving average of $73.09 and a 200-day moving average of $72.12. T. Rowe Price Group has a 12 month low of $63.57 and a 12 month high of $79.22.
Source: American Banking and Market News