T. Rowe Price Group, Inc. $TROW Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 58.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,016 shares of the asset manager’s stock after selling 30,653 shares during the period. Mutual Advisors LLC’s holdings in T. Rowe Price Group were worth $2,256,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new position in T. Rowe Price Group in the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its stake in T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.9%

NASDAQ TROW opened at $106.65 on Tuesday. The company has a market capitalization of $23.27 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. The firm’s fifty day simple moving average is $104.80 and its 200-day simple moving average is $104.69. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.22.

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

Insider Activity

In other T. Rowe Price Group 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. BMO Capital Markets increased their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 13th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Barclays reduced their price target on 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. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Finally, Evercore ISI increased their target price on T. Rowe Price Group from $115.00 to $116.00 in a research report on Monday, January 12th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $107.31.

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.