T. Rowe Price Group, Inc. $TROW Stake Lowered by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,633 shares of the asset manager’s stock after selling 8,679 shares during the period. Cullen Frost Bankers Inc.’s holdings in T. Rowe Price Group were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its stake in shares of T. Rowe Price Group by 42.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 30,281 shares of the asset manager’s stock worth $3,109,000 after purchasing an additional 9,095 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in T. Rowe Price Group by 141.9% in the third quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after buying an additional 103,174 shares during the last quarter. Sawgrass Asset Management LLC raised its position in T. Rowe Price Group by 19.6% during the third quarter. Sawgrass Asset Management LLC now owns 2,928 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 479 shares in the last quarter. 1834 Investment Advisors Co. lifted its stake in T. Rowe Price Group by 27.3% in the third quarter. 1834 Investment Advisors Co. now owns 37,375 shares of the asset manager’s stock valued at $3,836,000 after acquiring an additional 8,010 shares during the last quarter. Finally, BAM Wealth Management LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $286,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Barclays decreased their price objective on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a report on Thursday, January 15th. TD Cowen cut their target price on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a research report on Tuesday, January 20th. Finally, Evercore ISI upped their price target on T. Rowe Price Group from $115.00 to $116.00 in a research note on Monday, January 12th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group Stock Up 0.4%

TROW opened at $106.09 on Tuesday. The stock’s 50 day moving average price is $104.10 and its two-hundred day moving average price is $104.59. The firm has a market capitalization of $23.15 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

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.