Dearborn Partners LLC reduced its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,450 shares of the asset manager’s stock after selling 600 shares during the period. Dearborn Partners LLC’s holdings in T. Rowe Price Group were worth $319,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC boosted its position in T. Rowe Price Group by 66.3% in the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. Ruggie Capital Group bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $28,000. Financial Gravity Companies Inc. bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $30,000. Private Ocean LLC lifted its position in shares of T. Rowe Price Group by 66.5% during the fourth quarter. Private Ocean LLC now owns 388 shares of the asset manager’s stock worth $36,000 after purchasing an additional 155 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $36,000. 71.17% of the stock is owned by institutional investors.
In other T. Rowe Price Group news, VP Christopher D. Alderson sold 5,681 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $92.22, for a total value of $523,901.82. Following the sale, the vice president now owns 118,818 shares in the company, valued at $10,957,395.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.
Several brokerages have recently commented on TROW. Citigroup reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Morgan Stanley set a $101.00 price target on shares of T. Rowe Price Group and gave the stock a “hold” rating in a research report on Friday. Credit Suisse Group reduced their price target on shares of T. Rowe Price Group from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, January 14th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Finally, Goldman Sachs Group cut shares of T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.64.
Shares of NASDAQ:TROW opened at $92.38 on Friday. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $127.43. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.58 and a beta of 1.02.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, January 30th. The asset manager reported $1.41 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.25). T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.12%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $1.52 EPS. T. Rowe Price Group’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group Inc will post 6.14 EPS for the current fiscal year.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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