Y Intercept Hong Kong Ltd Trims Stake in T. Rowe Price Group, Inc. $TROW

Y Intercept Hong Kong Ltd lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,001 shares of the asset manager’s stock after selling 9,182 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in T. Rowe Price Group were worth $1,540,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TROW. TD Waterhouse Canada Inc. lifted its position in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Bill Few Associates Inc. boosted its stake in T. Rowe Price Group by 4.3% during the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares during the last quarter. Beacon Investment Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.2% during the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock worth $986,000 after buying an additional 120 shares in the last quarter. United Asset Strategies Inc. raised its position in shares of T. Rowe Price Group by 0.8% in the third quarter. United Asset Strategies Inc. now owns 16,994 shares of the asset manager’s stock valued at $1,744,000 after buying an additional 135 shares during the last quarter. Finally, Wynn Capital LLC lifted its stake in shares of T. Rowe Price Group by 2.7% in the third quarter. Wynn Capital LLC now owns 5,241 shares of the asset manager’s stock worth $538,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $105.68 on Friday. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52. The firm’s fifty day moving average price is $104.67 and its 200 day moving average price is $104.65. 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 results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $2.57 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TROW. Barclays reduced their price objective on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research report on Thursday, January 15th. BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 13th. Bank of America boosted their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. The Goldman Sachs Group cut their target price 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $107.31.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.