The Goldman Sachs Group Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $95.00

T. Rowe Price Group (NASDAQ:TROW) had its target price decreased by analysts at The Goldman Sachs Group from $97.00 to $95.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 11.48% from the company’s previous close.

Several other research firms have also issued reports on TROW. Evercore ISI decreased their target price on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Jefferies Financial Group lifted their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Barclays decreased their price objective on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. Finally, Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $107.54.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $107.32 on Wednesday. The firm has a fifty day moving average of $103.61 and a two-hundred day moving average of $104.23. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.69 and a beta of 1.52. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $2.57 EPS. As a group, research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Salomon & Ludwin LLC lifted its position in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the second quarter worth $35,000. 73.39% of the stock is currently owned by institutional investors.

Key Stories Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Evercore raised its price target to $116 (from $115), signaling upside potential and supporting the stock’s gains today. Evercore Raises PT to $116
• Positive Sentiment: BMO lifted its price target to $110 and kept a market-perform rating, a modest endorsement that helps support the stock. BMO Raises PT to $110
• Positive Sentiment: Zacks highlights T. Rowe’s history of earnings beats and suggests the company has the setup to beat again, which supports investor sentiment heading into future reports. Zacks: Earnings Beat Setup
• Positive Sentiment: Coverage pieces (Zacks/MSN) promoting T. Rowe as a strong growth stock add to bullish retail/institutional interest. MSN: Growth Thesis
• Neutral Sentiment: TD Cowen trimmed its target slightly to $109 (from $112) and kept a hold rating; this is largely neutral for immediate price direction given the small implied upside. TD Cowen Lowers PT to $109
• Negative Sentiment: Goldman Sachs cut its price target to $95 and maintained a “sell” rating — the most bearish call among recent notes and a key reason some selling pressure is present. Goldman Lowers PT to $95, Sells
• Negative Sentiment: Barclays trimmed its target to $101 and kept an underweight call, and Bank of America’s $86 target (raised marginally from $85) still implies substantial downside — both add downward pressure versus the current price. Barclays/BoA Targets

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.