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

T. Rowe Price Group (NASDAQ:TROW - Free Report) had its target price reduced by The Goldman Sachs Group from $89.00 to $80.00 in a report released on Monday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the asset manager's stock.

Several other equities analysts have also recently commented on TROW. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Citigroup dropped their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Morgan Stanley dropped their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded up $0.74 during midday trading on Monday, hitting $86.11. 4,903,880 shares of the company's stock were exchanged, compared to its average volume of 1,454,093. T. Rowe Price Group has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market cap of $19.14 billion, a P/E ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50. The stock's 50 day moving average price is $95.65 and its 200-day moving average price is $108.40.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business earned $1.72 EPS. On average, analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. T. Rowe Price Group's payout ratio is presently 55.46%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's 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 transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of T. Rowe Price Group

Institutional investors have recently modified their holdings of the company. Addison Advisors LLC boosted its stake in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth about $27,000. Y.D. More Investments Ltd lifted its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 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 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.