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 - Free Report) had its target price lowered by The Goldman Sachs Group from $89.00 to $80.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a sell rating on the asset manager's stock.

Other equities research analysts have also issued research reports about the stock. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Barclays lowered their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.74 during midday trading on Monday, hitting $86.11. 4,903,880 shares of the company's stock were exchanged, compared to its average volume of 1,458,199. The firm's 50 day simple moving average is $96.11 and its 200 day simple moving average is $108.55. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the business earned $1.72 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date was Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On T. Rowe Price Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the last quarter. Fayez Sarofim & Co raised its position in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares during the last quarter. Finally, Provident Trust Co. boosted its holdings in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after purchasing an additional 213,566 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other 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.