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

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by analysts at The Goldman Sachs Group from $90.00 to $92.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price target points to a potential downside of 19.57% from the company’s previous close.

Several other research analysts have also commented on TROW. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. TD Cowen upped their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Evercore boosted their price objective on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. BMO Capital Markets increased their price objective on shares of 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. Finally, Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $100.54.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $114.38 on Tuesday. The firm has a market cap of $24.51 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 5.67 and a beta of 1.50. The company has a 50-day moving average of $104.32 and a two-hundred day moving average of $99.99. T. Rowe Price Group has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. Sell-side analysts anticipate that T. Rowe Price Group will post 9.58 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares in the last quarter. Concorde Asset Management LLC lifted its position in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after purchasing an additional 102 shares during the period. MTM Investment Management LLC increased its holdings in T. Rowe Price Group by 3.5% in the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock valued at $324,000 after buying an additional 107 shares during the period. GenTrust LLC raised its stake in shares of T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after buying an additional 110 shares in the last quarter. Finally, Fiduciary Trust Co lifted its holdings in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

About T. Rowe Price Group

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.