The Goldman Sachs Group Has Lowered Expectations for T. Rowe Price Group (NASDAQ:TROW) Stock Price

Key Points

• Goldman Sachs lowered its price target for T. Rowe Price to $80 from $90 and kept a "sell" rating, implying about an 11.3% downside from the prior close.
• MarketBeat shows a consensus "Reduce" view with a $100.31 average target, based on 12 Hold and 4 Sell analyst ratings.
• T. Rowe Price slightly missed quarterly EPS ($2.44 vs. $2.47) while revenue rose 6% year-over-year; shares trade near $90 with a P/E of 9.75.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) had its price target reduced by analysts at The Goldman Sachs Group from $90.00 to $80.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a "sell" rating on the asset manager's stock. The Goldman Sachs Group's price target would indicate a potential downside of 11.28% from the stock's previous close.

TROW has been the topic of several other reports. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 9th. TD Cowen cut their price target on shares of T. Rowe Price Group from $109.00 to $97.00 and set a "hold" rating on the stock in a report on Thursday, February 5th. 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 for the company in a research note on Thursday, February 5th. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research report on Thursday, February 5th. Finally, Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $115.00 to $107.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 1st. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Reduce" and a consensus target price of $100.31.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $90.17 on Monday. T. Rowe Price Group has a 1 year low of $77.85 and a 1 year high of $118.22. The company's 50 day simple moving average is $93.58 and its 200 day simple moving average is $100.22. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.80 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $2.12 EPS. The company's revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

Hedge Funds Weigh In On T. Rowe Price Group

A number of institutional investors have recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC grew its stake in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after buying an additional 238 shares during the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $30,000. Canton Hathaway LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its stake in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

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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