T. Rowe Price Group (NASDAQ:TROW – Free Report) had its price target lowered by The Goldman Sachs Group from $90.00 to $80.00 in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has a sell rating on the asset manager’s stock.
Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Bank of America raised their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Evercore cut their target price on shares of T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. Morgan Stanley cut their target price on shares of T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, BMO Capital Markets cut their target price on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $98.00.
View Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Price Performance
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $2.12 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current year.
T. Rowe Price Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were paid a $1.30 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.22%.
Institutional Investors Weigh In On T. Rowe Price Group
Several hedge funds have recently bought and sold shares of TROW. Goldman Sachs Group Inc. lifted its position in T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. First Trust Advisors LP lifted its position in T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after acquiring an additional 1,832,231 shares during the last quarter. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $61,073,000. Finally, Caisse de depot et placement du Quebec lifted its position in T. Rowe Price Group by 81.0% during the third 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 acquiring an additional 584,949 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
T. Rowe Price Group News Summary
Here are the key news stories impacting T. Rowe Price Group this week:
- Positive Sentiment: Firm refreshed its 529 college-savings offering, reinforcing an education-focused product push that could support future AUM growth and improve long-term valuation prospects. T. Rowe Price 529 Refresh Highlights Education Focus And Valuation Upside Potential
- Neutral Sentiment: Coverage of new private-credit fund launches notes firms are still rolling out products despite rising redemptions in the category; mixed implications for T. Rowe — product expansion opportunity but in a cooling segment. New Private Credit Funds Are Being Launched Even as Redemptions Rise. Here’s Why.
- Negative Sentiment: Goldman Sachs has maintained a sell rating on TROW, keeping a pessimistic near-term forecast that pressures sentiment around the stock. Goldman Sachs Sticks to Its Sell Rating for T Rowe Price (TROW)
- Negative Sentiment: Keefe, Bruyette & Woods cut its price target to $95 and moved to market-perform, reducing implied upside and signaling more cautious near-term expectations. Benzinga
- Negative Sentiment: Jefferies trimmed its target to $91 and kept a hold rating, putting the target roughly at/just below current levels — another datapoint tempering upside. Jefferies Adjusts T. Rowe Price Group Price Target to $91
- Negative Sentiment: Analysis arguing outflows are becoming structural for T. Rowe raises concern about sustained AUM declines and fee pressure, a direct profit and valuation risk. T. Rowe Price: Outflows Are Increasingly Structural
- Negative Sentiment: Separate coverage reiterates Goldman’s pessimistic forecast for TROW shares, reinforcing negative analyst tone that can amplify selling pressure. The Goldman Sachs Group Issues Pessimistic Forecast for T. Rowe Price Group
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.
See Also
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.
