T. Rowe Price Group, Inc. $TROW Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,567,210 shares of the asset manager’s stock after selling 32,019 shares during the period. Bank of New York Mellon Corp owned 0.71% of T. Rowe Price Group worth $160,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after purchasing an additional 130,325 shares during the last quarter. State Street Corp increased its holdings in shares of T. Rowe Price Group by 1.5% in the second quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock worth $757,200,000 after buying an additional 140,385 shares in the last quarter. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after buying an additional 197,024 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock valued at $332,415,000 after buying an additional 11,036 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $105.68 on Friday. The company has a market capitalization of $23.06 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32. The firm has a 50 day moving average price of $104.67 and a 200 day moving average price of $104.65.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business posted $2.57 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TROW shares. Bank of America lifted their price target on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. TD Cowen cut their price objective on shares of 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. Barclays dropped their price target on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 20th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $107.31.

T. Rowe Price Group 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.