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

T. Rowe Price Group (NASDAQ:TROW) had its price target reduced by The Goldman Sachs Group from $90.00 to $80.00 in a research report report published on Monday morning,MarketScreener reports. The Goldman Sachs Group currently has a sell rating on the asset manager’s stock.

Several other equities research analysts have also recently issued reports on the company. TD Cowen cut their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Evercore cut their price target on T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $100.31.

T. Rowe Price Group Trading Down 0.9%

Shares of TROW stock opened at $89.33 on Monday. The stock has a market cap of $19.44 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 3.80 and a beta of 1.50. The stock has a 50 day simple moving average of $93.25 and a 200 day simple moving average of $100.10. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 the consensus estimate 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 quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.22%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its holdings 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 buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $30,000. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $31,000. Finally, Sound Income Strategies LLC increased its holdings in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.