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 reduced by equities research analysts at The Goldman Sachs Group from $106.00 to $102.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 5.96% from the stock’s current price.

Several other research firms also recently commented on TROW. Deutsche Bank Aktiengesellschaft upped 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 report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Barclays assumed coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective for the company. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 target price on the stock. Finally, Evercore ISI lowered their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Four research 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 company currently has an average rating of “Hold” and an average target price of $112.36.

T. Rowe Price Group Trading Up 1.9 %

NASDAQ:TROW opened at $108.47 on Thursday. The company has a market capitalization of $24.15 billion, a P/E ratio of 12.88, a PEG ratio of 1.72 and a beta of 1.41. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $122.27. The firm has a fifty day simple moving average of $107.17 and a 200-day simple moving average of $112.72.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm 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 firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. Equities analysts forecast that T. Rowe Price Group will post 8.96 EPS for the current year.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the stock. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $29,000. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter worth about $36,000. Versant Capital Management Inc grew its holdings in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 206 shares during the last quarter. 73.39% of the stock is currently 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.