Peachtree Investment Partners LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 24.5% in the third quarter, Holdings Channel.com reports. The firm owned 3,999 shares of the asset manager's stock after selling 1,295 shares during the quarter. Peachtree Investment Partners LLC's holdings in T. Rowe Price Group were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Oakworth Capital Inc. acquired a new stake in T. Rowe Price Group in the third quarter valued at $28,000. Artemis Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 39.7% in the second quarter. Artemis Wealth Advisors LLC now owns 292 shares of the asset manager's stock valued at $33,000 after buying an additional 83 shares in the last quarter. Core Alternative Capital raised its stake in shares of T. Rowe Price Group by 167.7% during the 2nd quarter. Core Alternative Capital now owns 332 shares of the asset manager's stock worth $38,000 after buying an additional 208 shares during the last quarter. Cowa LLC purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter worth about $42,000. Finally, Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 656.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 469 shares of the asset manager's stock valued at $49,000 after acquiring an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 76.58% of the company's stock.
Get T. Rowe Price Group alerts:T. Rowe Price Group Stock Performance
Shares of TROW stock traded down $0.39 during mid-day trading on Wednesday, hitting $116.08. 60,797 shares of the stock traded hands, compared to its average volume of 1,581,790. The company's 50-day simple moving average is $116.62 and its 200-day simple moving average is $116.25. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.41 and a beta of 1.28. T. Rowe Price Group, Inc. has a twelve month low of $93.53 and a twelve month high of $157.77.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its earnings results on Thursday, January 26th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.02. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. T. Rowe Price Group had a return on equity of 20.46% and a net margin of 24.01%. The company's quarterly revenue was down 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 6.71 earnings per share for the current year.Wall Street Analyst Weigh In
Several analysts have issued reports on TROW shares. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $120.00 to $112.00 and set an "equal weight" rating on the stock in a report on Friday, January 27th. Morgan Stanley reduced their target price on T. Rowe Price Group from $108.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $96.00 to $95.00 and set an "underweight" rating on the stock in a research report on Friday, January 27th. Credit Suisse Group cut their price objective on shares of T. Rowe Price Group from $70.00 to $65.00 and set an "underperform" rating for the company in a research report on Friday, January 27th. Finally, BMO Capital Markets dropped their target price on T. Rowe Price Group from $105.00 to $90.00 and set a "market perform" rating for the company in a research note on Friday, January 27th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus price target of $100.30.
Insider Buying and Selling at T. Rowe Price Group
In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the company's stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $124.15, for a total value of $1,241,500.00. Following the transaction, the insider now directly owns 41,000 shares of the company's stock, valued at approximately $5,090,150. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the sale, the insider now owns 41,000 shares of the company's stock, valued at $5,090,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert C.T. Higginbotham sold 6,619 shares of the firm's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $120.48, for a total value of $797,457.12. Following the completion of the sale, the vice president now directly owns 70,465 shares in the company, valued at $8,489,623.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.
T. Rowe Price Group Profile
(Get Rating)
T. Rowe Price Group, Inc is a global investment management organization, which engages in the provision of investment management services. The firm provides an array of mutual funds, sub advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries.
Further Reading
- Get a free copy of the StockNews.com research report on T. Rowe Price Group (TROW)
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