The Goldman Sachs Group Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

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

A number of other brokerages have also commented on TROW. Keefe, Bruyette & Woods dropped their price target on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft dropped their target price on 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. Bank of America increased their target price on T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday. Finally, Citigroup lifted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $107.54.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $1.24 during mid-day trading on Wednesday, hitting $107.32. The stock had a trading volume of 1,236,431 shares, compared to its average volume of 1,893,710. The business has a 50 day moving average price of $103.51 and a two-hundred day moving average price of $104.21. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $118.32. The firm has a market cap of $23.42 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.62 and a beta of 1.52.

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

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in T. Rowe Price Group by 137.7% during the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares during the last quarter. Norges Bank acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $82,756,000. Caisse de depot et placement du Quebec boosted its position in T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares in the last quarter. ARGA Investment Management LP boosted its holdings in T. Rowe Price Group by 3,807.3% during the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after buying an additional 464,949 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at about $37,722,000. 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 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.