T. Rowe Price Group (NASDAQ:TROW) Price Target Lowered to $91.00 at Jefferies Financial Group

T. Rowe Price Group (NASDAQ:TROW) had its target price reduced by Jefferies Financial Group from $107.00 to $91.00 in a research report released on Wednesday,MarketScreener reports. Jefferies Financial Group currently has a hold rating on the asset manager’s stock.

A number of other research firms have also weighed in on TROW. JPMorgan Chase & Co. lowered 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 report on Thursday, February 5th. Evercore decreased their target price on shares of T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday, March 6th. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $110.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their target price on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $98.00.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $91.81 on Wednesday. The firm’s fifty day moving average price is $92.65 and its 200 day moving average price is $99.93. T. Rowe Price Group has a 1-year low of $79.06 and a 1-year high of $118.22. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 3.80 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the business earned $2.12 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were given a $1.30 dividend. The ex-dividend date was Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is presently 56.22%.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in TROW. Goldman Sachs Group Inc. boosted its position in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after buying an additional 6,740,172 shares in the last quarter. First Trust Advisors LP boosted its position in shares of T. Rowe Price Group by 126.5% in the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after buying an additional 1,832,231 shares in the last quarter. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $61,073,000. Finally, Caisse de depot et placement du Quebec boosted its position in shares of T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after buying an additional 584,949 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Firm refreshed its 529 college-savings offering, reinforcing an education-focused product push that could support future AUM growth and improve long-term valuation prospects. T. Rowe Price 529 Refresh Highlights Education Focus And Valuation Upside Potential
• Neutral Sentiment: Coverage of new private-credit fund launches notes firms are still rolling out products despite rising redemptions in the category; mixed implications for T. Rowe — product expansion opportunity but in a cooling segment. New Private Credit Funds Are Being Launched Even as Redemptions Rise. Here’s Why.
• Negative Sentiment: Goldman Sachs has maintained a sell rating on TROW, keeping a pessimistic near-term forecast that pressures sentiment around the stock. Goldman Sachs Sticks to Its Sell Rating for T Rowe Price (TROW)
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target to $95 and moved to market-perform, reducing implied upside and signaling more cautious near-term expectations. Benzinga
• Negative Sentiment: Jefferies trimmed its target to $91 and kept a hold rating, putting the target roughly at/just below current levels — another datapoint tempering upside. Jefferies Adjusts T. Rowe Price Group Price Target to $91
• Negative Sentiment: Analysis arguing outflows are becoming structural for T. Rowe raises concern about sustained AUM declines and fee pressure, a direct profit and valuation risk. T. Rowe Price: Outflows Are Increasingly Structural
• Negative Sentiment: Separate coverage reiterates Goldman’s pessimistic forecast for TROW shares, reinforcing negative analyst tone that can amplify selling pressure. The Goldman Sachs Group Issues Pessimistic Forecast for T. Rowe Price Group

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.