T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

T. Rowe Price Group (NASDAQ:TROW) had its target price increased by stock analysts at The Goldman Sachs Group from $80.00 to $85.00 in a research note issued on Tuesday,MarketScreener reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 11.56% from the company’s previous close.

Several other research firms have also recently issued reports on TROW. Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $97.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, Barclays set a $94.00 target price on shares of T. Rowe Price Group in a report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $97.38.

T. Rowe Price Group Trading Up 0.3%

NASDAQ TROW opened at $96.11 on Tuesday. The company’s fifty day simple moving average is $91.72 and its 200-day simple moving average is $99.58. T. Rowe Price Group has a 52 week low of $82.86 and a 52 week high of $118.22. The stock has a market cap of $20.91 billion, a P/E ratio of 10.39, a PEG ratio of 4.15 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 earnings per share. On average, research analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Hedge Funds Weigh In On T. Rowe Price Group

Several institutional investors have recently modified their holdings of TROW. TD Private Client Wealth LLC grew its position in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the third quarter worth about $30,000. Canton Hathaway LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $31,000. Finally, Sound Income Strategies LLC grew its position in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

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.