Kestra Private Wealth Services LLC Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kestra Private Wealth Services LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 4,443 shares of the asset manager’s stock after selling 231 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in T. Rowe Price Group were worth $478,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TROW. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares during the period. Morgan Stanley boosted its position in shares of T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after purchasing an additional 25,012 shares in the last quarter. Northern Trust Corp grew its position in shares of T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after buying an additional 93,829 shares during the period. Invesco Ltd. increased its stake in shares of T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after acquiring an additional 119,305 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of T. Rowe Price Group by 1.9% during the third quarter. Stifel Financial Corp now owns 1,285,278 shares of the asset manager’s stock valued at $134,790,000 after purchasing an additional 24,413 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $112.01 on Tuesday. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a fifty day moving average of $115.23 and a 200 day moving average of $107.57.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $1.69 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on TROW shares. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. UBS Group raised their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.10.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.