T. Rowe Price Group (NASDAQ:TROW) Given New $85.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target on T. Rowe Price to $85 from $80 but kept a sell rating, implying roughly a 9.9% downside from the prior close.
• Broader analyst coverage is mixed-to-cautious — eleven analysts rate the stock a Hold and four a Sell, with an average analyst rating of Reduce and an average price target of $97.38.
• T. Rowe Price shares opened at $94.37, with a P/E of 10.2 and market cap about $20.5B; the firm reported Q4 EPS of $2.44 (missing by $0.03) while revenue rose 6% year-over-year.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target upped by equities research analysts at The Goldman Sachs Group from $80.00 to $85.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a "sell" rating on the asset manager's stock. The Goldman Sachs Group's price objective suggests a potential downside of 9.93% from the company's previous close.

Several other research analysts have also issued reports on the company. Jefferies Financial Group dropped their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research note on Wednesday, April 8th. TD Cowen cut their price target on shares of T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an "underweight" rating on the stock in a research note on Thursday, February 5th. Bank of America lifted their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their target price on T. Rowe Price Group from $110.00 to $95.00 and set a "market perform" rating on the stock in a report on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $97.38.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $94.37 on Tuesday. The firm has a fifty day moving average of $91.87 and a 200-day moving average of $99.65. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 3.92 and a beta of 1.50. T. Rowe Price Group has a 52-week low of $82.86 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 EPS. On average, sell-side analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Institutional Trading of T. Rowe Price Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. World Investment Advisors acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $365,000. Corient Private Wealth LLC grew its holdings in T. Rowe Price Group by 27.0% during the 4th quarter. Corient Private Wealth LLC now owns 43,207 shares of the asset manager's stock worth $4,436,000 after acquiring an additional 9,174 shares during the period. AG Campbell Advisory LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $345,000. Tobam lifted its stake in shares of T. Rowe Price Group by 21,661.1% in the 4th quarter. Tobam now owns 7,834 shares of the asset manager's stock valued at $802,000 after purchasing an additional 7,798 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Anchor Investment Management LLC now owns 28,974 shares of the asset manager's stock worth $2,966,000 after purchasing an additional 612 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Company Profile

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.

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