Keybank National Association OH Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Keybank National Association OH lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 124,944 shares of the asset manager’s stock after selling 7,565 shares during the quarter. Keybank National Association OH owned about 0.06% of T. Rowe Price Group worth $12,824,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Woodline Partners LP raised its position in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth raised its stake in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. PFG Investments LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $207,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of T. Rowe Price Group by 11.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 238,779 shares of the asset manager’s stock valued at $23,042,000 after purchasing an additional 25,010 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after buying an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped 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 note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research report on Wednesday, December 17th. Finally, Barclays dropped their price target on shares of 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. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $107.31.

T. Rowe Price Group Trading Up 0.8%

Shares of TROW opened at $105.68 on Friday. The firm has a 50-day moving average price of $104.67 and a 200 day moving average price of $104.68. The firm has a market capitalization of $23.06 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.54 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 released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for 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%.The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction of $434,349.60. Following the transaction, the vice president directly 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 legal filing with the SEC, which is accessible through this link. Corporate 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.