T. Rowe Price Group (NASDAQ:TROW) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

by · The Markets Daily

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) had its target price increased by research analysts at The Goldman Sachs Group from $90.00 to $92.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 19.57% from the stock’s previous close.

Several other brokerages also recently commented on TROW. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. Evercore increased their target price on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, BMO Capital Markets boosted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $100.54.

View Our Latest Stock Report on T. Rowe Price Group

T. Rowe Price Group Stock Up 3.7%

Shares of T. Rowe Price Group stock opened at $114.38 on Tuesday. The company has a market cap of $24.51 billion, a PE ratio of 12.26, a P/E/G ratio of 5.67 and a beta of 1.50. The business has a 50 day moving average of $104.32 and a 200 day moving average of $99.99. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $2.23 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group will post 9.58 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of institutional investors have recently made changes to their positions in TROW. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $31,000. Sound Income Strategies LLC grew its stake in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares during the period. Finally, DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

(Get Free Report)

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

Recommended Stories