T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $92.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised its price target for T. Rowe Price Group from $91.00 to $92.00, maintaining a "sell" rating for the stock, which indicates a potential downside of 10.26%.
• Other equities analysts have varied stances, with price targets ranging from $98.00 to $116.00 and a consensus target price of $104.08 among analysts.
• T. Rowe Price Group reported earnings of $2.24 EPS for the last quarter, slightly beating the consensus estimate, although revenue was down 0.6% compared to the same quarter the previous year.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its target price boosted by equities researchers at The Goldman Sachs Group from $91.00 to $92.00 in a research note issued on Friday,MarketScreener reports. The firm currently has a "sell" rating on the asset manager's stock. The Goldman Sachs Group's target price indicates a potential downside of 10.26% from the company's current price.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. BMO Capital Markets began coverage on T. Rowe Price Group in a report on Friday. They set a "market perform" rating and a $108.00 target price for the company. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and a consensus target price of $104.08.

T. Rowe Price Group Stock Up 0.8%

NASDAQ:TROW opened at $102.51 on Friday. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 2.62 and a beta of 1.50. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The stock's 50 day moving average price is $105.78 and its two-hundred day moving average price is $98.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.26 EPS. As a group, analysts anticipate that T. Rowe Price Group will post 9.29 earnings per share for the current year.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TROW. Exchange Traded Concepts LLC increased its holdings in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after acquiring an additional 36,190 shares during the last quarter. Mather Group LLC. increased its position in T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after acquiring an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after acquiring an additional 24,323 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of T. Rowe Price Group by 22.9% during the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock worth $28,373,000 after purchasing an additional 57,503 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

About T. Rowe Price Group

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.

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