Analysts at Goldman Sachs on Monday removed T. Rowe Price Group,
) from its "Conviction Buy" List, replacing it with rival money
manager Ameriprise Financial, Inc. (
The firm said it maintained its "Buy" rating and $77 price
target for TROW, which still suggests a 20% upside to the stock's
Friday closing price of $62.52.
Meanwhile, Goldman replaced TROW on its "Conviction Buy" List
with Ameriprise. It also set a $75 price target on AMP, which
implies a 25% upside to the stock's Friday closing price of
The analyst commented, "given Ameriprise's continued business
mix shift toward capital-light asset/wealth management businesses,
improving margins amid the Columbia integration and a significant
buyback opportunity, we see a clearer path to upside [compared with
Both Ameriprise and T. Rowe Price shares were mostly flat in
premarket trading Monday.
The Bottom Line
Shares of T.Rowe Price (
) have a 1.98% dividend yield, based on Friday's closing stock
price of $62.52. Shares of Ameriprise (
) have a 1.50% dividend yield, based on Friday's closing stock
price of $61.20.
T. Rowe Price Group, Inc. (
) and Ameriprise Financial, Inc. (
) are both rated "Neutral," holding Dividend.com DARS™ Ratings of
3.4 out of 5 stars.
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, as well as a detailed explanation of
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