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

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by investment analysts at The Goldman Sachs Group from $103.00 to $89.00 in a research 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 objective suggests a potential upside of 7.75% from the stock’s previous close.

Several other research analysts also recently weighed in on TROW. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Citigroup cut 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. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $108.50.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $82.60 on Thursday. T. Rowe Price Group has a one year low of $82.34 and a one year high of $125.81. The company’s fifty day moving average price is $102.18 and its 200-day moving average price is $110.29. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly 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 prior year, the firm earned $1.72 EPS. Equities research analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’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 transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth $117,704,000. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $63,284,000. Fayez Sarofim & Co lifted its stake in 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 worth $684,474,000 after acquiring an additional 425,142 shares during the period. Amundi grew 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 worth $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

About T. Rowe Price Group

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.