The Goldman Sachs Group Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $96.00

T. Rowe Price Group (NASDAQ:TROWGet Rating) had its target price boosted by research analysts at The Goldman Sachs Group from $84.00 to $96.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 22.83% from the company’s current price.

Several other research firms have also issued reports on TROW. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, October 31st. UBS Group cut their target price on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. StockNews.com started coverage on T. Rowe Price Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $90.00 to $93.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 18th. Finally, Credit Suisse Group initiated coverage on T. Rowe Price Group in a research note on Wednesday, October 19th. They set an “underperform” rating and a $70.00 target price on the stock. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $113.90.

T. Rowe Price Group Trading Down 0.0 %

T. Rowe Price Group stock opened at $124.40 on Wednesday. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.25 and a beta of 1.25. The firm’s fifty day moving average price is $110.12 and its two-hundred day moving average price is $116.87. T. Rowe Price Group has a 1-year low of $93.53 and a 1-year high of $208.65.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. T. Rowe Price Group had a return on equity of 23.88% and a net margin of 29.35%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $3.27 EPS. The company’s quarterly revenue was down 18.7% on a year-over-year basis. On average, research analysts forecast that T. Rowe Price Group will post 7.9 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the sale, the insider now owns 41,000 shares of the company’s stock, valued at approximately $5,090,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Pine Haven Investment Counsel Inc raised its stake in T. Rowe Price Group by 1.0% in the first quarter. Pine Haven Investment Counsel Inc now owns 7,829 shares of the asset manager’s stock worth $1,184,000 after buying an additional 81 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of T. Rowe Price Group by 1.4% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 5,785 shares of the asset manager’s stock valued at $657,000 after purchasing an additional 82 shares during the period. Artemis Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 39.7% during the second quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Crawford Investment Counsel Inc. grew its stake in T. Rowe Price Group by 2.9% in the first quarter. Crawford Investment Counsel Inc. now owns 3,067 shares of the asset manager’s stock worth $464,000 after purchasing an additional 87 shares during the period. Finally, Beacon Financial Group raised its holdings in T. Rowe Price Group by 1.1% in the second quarter. Beacon Financial Group now owns 8,416 shares of the asset manager’s stock worth $1,004,000 after purchasing an additional 91 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.

T. Rowe Price Group Company Profile

(Get Rating)

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.

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