The Goldman Sachs Group Lowers T. Rowe Price Group (NASDAQ:TROW) Price Target to $102.00

T. Rowe Price Group (NASDAQ:TROW) had its target price dropped by research analysts at The Goldman Sachs Group from $106.00 to $102.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price target points to a potential downside of 4.14% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on TROW. TD Cowen dropped their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Evercore ISI reduced their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Barclays started coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $112.27.

T. Rowe Price Group Stock Performance

TROW traded down $0.93 on Thursday, hitting $106.41. 152,271 shares of the company were exchanged, compared to its average volume of 1,255,766. The stock’s fifty day moving average is $107.42 and its 200-day moving average is $112.81. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $122.27. The company has a market cap of $23.76 billion, a PE ratio of 12.66, a PEG ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities research analysts expect that T. Rowe Price Group will post 8.96 EPS for the current fiscal year.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. 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

Several hedge funds and other institutional investors have recently made changes to their positions in TROW. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth approximately $130,386,000. Los Angeles Capital Management LLC raised its position in T. Rowe Price Group by 492.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after purchasing an additional 265,881 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. AQR Capital Management LLC raised its position in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares during the last quarter. Finally, Burney Co. bought a new stake in T. Rowe Price Group in the second quarter valued at approximately $20,938,000. 73.39% of the stock is currently owned by institutional investors.

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.