T. Rowe Price Group, Inc. $TROW Shares Sold by L.K. Benson & Company P.C.

L.K. Benson & Company P.C. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 315,841 shares of the asset manager’s stock after selling 8,671 shares during the period. T. Rowe Price Group accounts for 17.5% of L.K. Benson & Company P.C.’s investment portfolio, making the stock its largest position. L.K. Benson & Company P.C.’s holdings in T. Rowe Price Group were worth $32,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its stake in shares of 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 worth $25,000 after purchasing an additional 100 shares during the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% in 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. Finally, Atlantic Union Bankshares Corp bought a new position in shares of T. Rowe Price Group in the second quarter valued at $35,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW opened at $102.66 on Wednesday. The business’s 50-day moving average is $104.83 and its 200-day moving average is $104.67. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.58 and a beta of 1.53. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value 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 represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TROW shares. Morgan Stanley reduced their price objective on T. Rowe Price Group from $128.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a report on Tuesday, December 16th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $106.92.

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.