T. Rowe Price Group, Inc. $TROW Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.0% during the 3rd quarter, Holdings Channel reports. The fund owned 15,001 shares of the asset manager’s stock after selling 9,182 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in T. Rowe Price Group were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its position in 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 valued at $25,000 after buying an additional 100 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $30,000. Salomon & Ludwin LLC increased its stake in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the period. Vermillion & White Wealth Management Group LLC increased 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 purchasing an additional 174 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TROW shares. 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 note on Wednesday, December 17th. Barclays lowered their price objective on shares of T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research report on Thursday, January 15th. Morgan Stanley upped their target price on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, Citigroup boosted their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group Trading Up 0.8%

TROW opened at $105.68 on Friday. The stock has a market cap of $23.06 billion, a PE ratio of 11.51, a P/E/G ratio of 2.54 and a beta of 1.52. The stock’s 50 day simple moving average is $104.67 and its 200-day simple moving average is $104.65. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32.

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

T. Rowe Price Group 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.