Telos Capital Management Inc. Decreases Stock Position in T. Rowe Price Group, Inc. $TROW

Telos Capital Management Inc. decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 66,475 shares of the asset manager’s stock after selling 8,357 shares during the period. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $6,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 0.5% during the second quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after purchasing an additional 130,325 shares during the last quarter. State Street Corp increased its stake in T. Rowe Price Group by 1.5% during the second quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock worth $757,200,000 after purchasing an additional 140,385 shares during the period. Geode Capital Management LLC lifted its position in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after buying an additional 197,024 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after buying an additional 11,036 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $102.66 on Wednesday. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.58 and a beta of 1.53. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22. The business has a fifty day moving average of $104.83 and a 200-day moving average of $104.67.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TROW shares. BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research report on Tuesday, January 13th. Barclays lowered their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their price target on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $106.92.

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 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 transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

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.