Mutual Advisors LLC Sells 30,653 Shares of T. Rowe Price Group, Inc. $TROW

Mutual Advisors LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 58.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 22,016 shares of the asset manager’s stock after selling 30,653 shares during the quarter. Mutual Advisors LLC’s holdings in T. Rowe Price Group were worth $2,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Woodline Partners LP lifted its stake in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth lifted its position in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares during the last quarter. PFG Investments LLC bought a new position in T. Rowe Price Group during the 2nd quarter worth $207,000. QRG Capital Management Inc. raised its stake in T. Rowe Price Group by 136.3% in the 2nd quarter. QRG Capital Management Inc. now owns 33,517 shares of the asset manager’s stock worth $3,234,000 after purchasing an additional 19,331 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in shares of T. Rowe Price Group by 126.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 9,663 shares of the asset manager’s stock valued at $932,000 after buying an additional 5,391 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating on the stock in a report on Tuesday, January 20th. Keefe, Bruyette & Woods cut their target price on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a report on Wednesday, January 14th. Finally, BMO Capital Markets lifted their price objective 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. 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, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $107.31.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’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 completion of the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $106.65 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. The stock has a 50 day moving average price of $104.80 and a 200-day moving average price of $104.69.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) 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 company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $2.57 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict 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.