T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $89.00 at The Goldman Sachs Group

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target cut by The Goldman Sachs Group from $103.00 to $89.00 in a research report report published on Thursday,Benzinga reports. They currently have a sell rating on the asset manager's stock.

Several other analysts have also recently issued reports on TROW. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed 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 research report on Thursday, February 6th. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Finally, Citigroup lowered their price objective on 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. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $108.50.

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T. Rowe Price Group Price Performance

Shares of TROW stock traded down $1.39 during trading hours on Thursday, hitting $80.27. The company had a trading volume of 2,988,876 shares, compared to its average volume of 1,409,957. T. Rowe Price Group has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company's fifty day moving average is $101.54 and its 200 day moving average is $110.12. The stock has a market capitalization of $17.84 billion, a PE ratio of 8.76, 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 announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 period in the previous year, the firm earned $1.72 EPS. Equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend 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 55.46%.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TROW. Nilsine Partners LLC boosted its stake in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after acquiring an additional 2,370 shares in the last quarter. Principal Financial Group Inc. grew its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Amundi increased its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Commonwealth Equity Services LLC raised its position in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after acquiring an additional 20,062 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after purchasing an additional 73,307 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

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.