Exchange Traded Concepts LLC Sells 207 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Exchange Traded Concepts LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 759 shares of the asset manager’s stock after selling 207 shares during the quarter. Exchange Traded Concepts LLC’s holdings in T. Rowe Price Group were worth $86,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the period. Janus Henderson Group PLC grew its holdings in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares in the last quarter. Aigen Investment Management LP bought a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $516,000. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of T. Rowe Price Group by 442,900.0% during the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after acquiring an additional 4,429 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $116.92 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a market cap of $25.97 billion, a PE ratio of 12.79, a P/E/G ratio of 1.74 and a beta of 1.43. The firm has a 50-day moving average of $116.90 and a 200-day moving average of $112.75.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.42 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TROW. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Barclays dropped their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.