Strs Ohio Sells 18,588 Shares of T. Rowe Price Group, Inc. $TROW

Strs Ohio reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 78.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,231 shares of the asset manager’s stock after selling 18,588 shares during the period. Strs Ohio’s holdings in T. Rowe Price Group were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TROW. Leelyn Smith LLC boosted its stake in shares of T. Rowe Price Group by 6.1% in the 3rd quarter. Leelyn Smith LLC now owns 24,868 shares of the asset manager’s stock worth $2,552,000 after buying an additional 1,425 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in T. Rowe Price Group in the third quarter worth $203,000. Rakuten Investment Management Inc. purchased a new position in T. Rowe Price Group in the third quarter worth $2,124,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in T. Rowe Price Group by 0.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 190,784 shares of the asset manager’s stock valued at $19,582,000 after purchasing an additional 532 shares during the period. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $65,000. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TROW. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Barclays dropped their target price on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research note on Thursday, January 15th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $107.31.

T. Rowe Price Group Stock Up 0.8%

T. Rowe Price Group stock opened at $105.68 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.54 and a beta of 1.52. The business has a 50-day simple moving average of $104.67 and a 200 day simple moving average of $104.65.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $2.57 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Company Profile

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.