Keybank National Association OH Reduces Holdings in T. Rowe Price Group, Inc. $TROW

Keybank National Association OH decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 124,944 shares of the asset manager’s stock after selling 7,565 shares during the quarter. Keybank National Association OH’s holdings in T. Rowe Price Group were worth $12,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TROW. Candriam S.C.A. lifted its holdings in shares of T. Rowe Price Group by 20.4% during the 2nd quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock valued at $2,985,000 after purchasing an additional 5,236 shares in the last quarter. Greenspring Advisors LLC bought a new position in T. Rowe Price Group during the third quarter worth about $1,583,000. Fidelis Capital Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $540,000. First Citizens Bank & Trust Co. lifted its holdings in shares of T. Rowe Price Group by 141.9% during the third quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock worth $18,053,000 after buying an additional 103,174 shares in the last quarter. Finally, Allen Wealth Management LLC grew its position in T. Rowe Price Group by 459.3% during the third quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock worth $1,422,000 after buying an additional 11,378 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TROW. Keefe, Bruyette & Woods decreased 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. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. JPMorgan Chase & Co. lowered 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. BMO Capital Markets increased their price target on 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. Finally, Bank of America upped their price target on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $107.31.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction 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 sale, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.8%

NASDAQ TROW opened at $105.68 on Friday. The firm has a market cap of $23.06 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52. The stock has a 50-day moving average of $104.67 and a 200-day moving average of $104.68. 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 released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Company 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.