T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $93.00 at The Goldman Sachs Group

by · The Markets Daily

T. Rowe Price Group (NASDAQ:TROW – Free Report) had its price objective cut by The Goldman Sachs Group from $98.00 to $93.00 in a research report report published on Tuesday morning,MarketScreener reports. They currently have a sell rating on the asset manager’s stock.

A number of other brokerages also recently commented on TROW. TD Cowen raised their price objective on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. BMO Capital Markets assumed coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target on the stock. Citigroup upped their price objective on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Finally, Barclays set a $101.00 price objective on T. Rowe Price Group in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $109.00.

Get Our Latest Research Report on TROW

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $101.13 on Tuesday. The firm has a market cap of $22.07 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. The firm’s fifty day moving average price is $103.03 and its 200 day moving average price is $101.78. T. Rowe Price Group has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. raised its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $27,000. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC raised its position in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

(Get Free Report)

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.

Recommended Stories