T. Rowe Price Group, Inc. $TROW Shares Sold by L.K. Benson & Company P.C.

L.K. Benson & Company P.C. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 315,841 shares of the asset manager’s stock after selling 8,671 shares during the quarter. T. Rowe Price Group makes up about 17.5% of L.K. Benson & Company P.C.’s investment portfolio, making the stock its biggest holding. L.K. Benson & Company P.C. owned approximately 0.14% of T. Rowe Price Group worth $32,418,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC grew its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the last quarter. Salomon & Ludwin LLC raised its stake in T. Rowe Price Group by 84.3% during the third 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 bought a new position in T. Rowe Price Group in the second quarter worth about $35,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity

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 shares were 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 $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a report on Tuesday, January 20th. Evercore ISI upped their price objective on T. Rowe Price Group from $115.00 to $116.00 in a research note on Monday, January 12th. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $128.00 to $123.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Tuesday, December 16th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $106.92.

T. Rowe Price Group Stock Down 3.7%

Shares of TROW opened at $102.66 on Wednesday. The firm has a market capitalization of $22.40 billion, a PE ratio of 11.18, a P/E/G ratio of 2.58 and a beta of 1.53. The firm has a 50-day moving average price of $104.83 and a 200 day moving average price of $104.67. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.22.

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.