T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $80.00 at The Goldman Sachs Group

T. Rowe Price Group (NASDAQ:TROW) had its target price cut by The Goldman Sachs Group from $89.00 to $80.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a sell rating on the asset manager’s stock.

Several other research firms also recently commented on TROW. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday. Citigroup cut their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $100.09.

T. Rowe Price Group Trading Up 0.7 %

Shares of T. Rowe Price Group stock opened at $89.32 on Monday. The business’s fifty day simple moving average is $97.55 and its 200 day simple moving average is $109.02. T. Rowe Price Group has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market capitalization of $19.85 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm earned $1.72 EPS. Analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.69%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently bought and sold shares of the stock. Nilsine Partners LLC grew its holdings in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. grew its holdings in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Amundi increased its position in shares of 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. Commonwealth Equity Services LLC raised its stake 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 valued at $40,436,000 after acquiring an additional 20,062 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake 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 purchasing an additional 73,307 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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.