T. Rowe Price Group, Inc. $TROW Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,796 shares of the asset manager’s stock after selling 15,190 shares during the period. Heritage Investors Management Corp owned approximately 0.07% of T. Rowe Price Group worth $16,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its stake in T. Rowe Price Group by 66.7% during the 2nd 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. Root Financial Partners LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC increased its stake in 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 period. Salomon & Ludwin LLC raised its position in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after buying an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $106.65 on Tuesday. The business’s 50-day simple moving average is $104.80 and its 200-day simple moving average is $104.69. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.22. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.56 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during 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 company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other T. Rowe Price Group 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 $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TROW. Jefferies Financial Group raised their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods decreased their price objective 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 note on Tuesday, December 16th. BMO Capital Markets lifted their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, January 13th. Bank of America boosted their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price target 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. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $107.31.

About T. Rowe Price Group

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.