Telos Capital Management Inc. Lowers Stock Holdings in T. Rowe Price Group, Inc. $TROW

Telos Capital Management Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,475 shares of the asset manager’s stock after selling 8,357 shares during the quarter. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $6,823,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. grew 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 purchasing an additional 100 shares in the last quarter. Root Financial Partners LLC purchased a new position in T. Rowe Price Group during the third quarter worth approximately $30,000. Salomon & Ludwin LLC boosted 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 buying an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in T. Rowe Price Group by 120.0% in 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 in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group in the 2nd quarter valued at $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group 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. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research report on Tuesday, January 13th. Bank of America raised their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. Citigroup increased their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $106.92.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $102.66 on Wednesday. The company 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 company has a fifty day moving average of $104.83 and a two-hundred day moving average of $104.67. 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 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.