The Goldman Sachs Group Cuts T. Rowe Price Group (NASDAQ:TROW) Price Target to $80.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective cut by analysts at The Goldman Sachs Group from $90.00 to $80.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 11.28% from the company’s current price.

TROW has been the subject of several other research reports. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Bank of America lifted their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. decreased their target price on 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. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $100.31.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $90.17 on Monday. The stock’s 50 day moving average price is $93.58 and its two-hundred day moving average price is $100.22. T. Rowe Price Group has a 52-week low of $77.85 and a 52-week high of $118.22. The stock has a market capitalization of $19.62 billion, a P/E ratio of 9.75, a PEG ratio of 3.80 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly 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 firm 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%. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 earnings per share. On average, analysts anticipate that T. Rowe Price Group will post 9.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after acquiring an additional 211,647 shares during the period. Goldman Sachs Group Inc. lifted its position in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Invesco Ltd. increased its position in shares of T. Rowe Price Group by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the period. Finally, Morgan Stanley increased its position in shares of T. Rowe Price Group by 16.0% during the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

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.