The Goldman Sachs Group Issues Pessimistic Forecast for T. Rowe Price Group (NASDAQ:TROW) Stock Price

T. Rowe Price Group (NASDAQ:TROW) had its target price reduced by equities researchers at The Goldman Sachs Group from $89.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 8.65% from the company’s current price.

A number of other brokerages have also recently commented on TROW. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Citigroup lowered their price objective on shares of 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. Wells Fargo & Company reduced their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $100.09.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $87.58 on Monday. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a one year low of $77.85 and a one year high of $125.81. The company’s 50 day moving average price is $97.08 and its 200 day moving average price is $108.87.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 quarter in the previous year, the company posted $1.72 earnings per share. Sell-side analysts forecast that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on 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 in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’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 sale, the vice president now directly owns 36,800 shares in the company, 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. Company insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several institutional investors have recently added to or reduced their stakes in the business. Davis Investment Partners LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $524,000. Greenwood Capital Associates LLC boosted its stake in T. Rowe Price Group by 11.7% in the first quarter. Greenwood Capital Associates LLC now owns 14,377 shares of the asset manager’s stock valued at $1,321,000 after acquiring an additional 1,502 shares during the period. McKinley Carter Wealth Services Inc. boosted its stake in T. Rowe Price Group by 4.6% in the first quarter. McKinley Carter Wealth Services Inc. now owns 14,580 shares of the asset manager’s stock valued at $1,339,000 after acquiring an additional 635 shares during the period. Donaldson Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 1.0% during the first quarter. Donaldson Capital Management LLC now owns 401,675 shares of the asset manager’s stock valued at $36,902,000 after purchasing an additional 4,018 shares during the last quarter. Finally, Martin Capital Partners LLC raised its position in shares of T. Rowe Price Group by 3.8% during the 1st quarter. Martin Capital Partners LLC now owns 17,332 shares of the asset manager’s stock worth $1,592,000 after purchasing an additional 638 shares during the period. Institutional investors 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.