T. Rowe Price Group (NASDAQ:TROW) Given New $89.00 Price Target at The Goldman Sachs Group

T. Rowe Price Group (NASDAQ:TROW) had its price objective decreased by The Goldman Sachs Group from $103.00 to $89.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the asset manager’s stock.

Several other brokerages have also issued reports on TROW. Keefe, Bruyette & Woods reiterated 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. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.50.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $86.22 on Thursday. The firm’s 50 day moving average price is $102.82 and its two-hundred day moving average price is $110.45. The firm has a market cap of $19.16 billion, a PE ratio of 9.41, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group has a twelve month low of $85.74 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the company earned $1.72 earnings per share. Equities analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Institutional investors and hedge funds have recently modified their holdings of the company. Glenview Trust co boosted its stake in T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after buying an additional 92 shares in the last quarter. MCF Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after acquiring an additional 93 shares in the last quarter. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group raised its position in T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after purchasing an additional 98 shares in the last quarter. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by 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.