T. Rowe Price Group Inc. saw its stock rating cut Tuesday by one major analyst who expected the firm to see less money invested in its mutual funds than pulled out this quarter. Goldman Sachs Group Inc. analyst Marc Irizarry dropped his rating to “sell” from “neutral,” and said the number of customers withdrawing funds, declining investment performance and tighter operating margins would all weigh on the Baltimore-based firm’s fourth-quarter performance.
T. Rowe stock closed down nearly 7 percent to $34.13 a share.
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