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

T. Rowe Price Group (NASDAQ:TROW) had its price target cut by investment analysts at The Goldman Sachs Group from $89.00 to $80.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 8.65% from the stock’s previous close.

TROW has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Citigroup reduced their price target 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.09.

T. Rowe Price Group Trading Down 1.9 %

Shares of TROW opened at $87.58 on Monday. The stock’s 50 day moving average is $97.08 and its two-hundred day moving average is $108.87. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $19.46 billion, a PE ratio of 9.56, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 last year, the business posted $1.72 EPS. On average, sell-side analysts predict that T. Rowe Price Group will post 9.29 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of T. Rowe Price Group

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth about $117,704,000. Marshall Wace LLP purchased a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $63,284,000. Fayez Sarofim & Co increased its position in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after purchasing an additional 425,142 shares during the last quarter. Amundi raised its stake in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after purchasing an additional 387,604 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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.