Allspring Global Investments Holdings LLC Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Allspring Global Investments Holdings LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,225 shares of the asset manager’s stock after selling 2,831 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in T. Rowe Price Group were worth $1,332,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in T. Rowe Price Group in the second quarter worth approximately $36,000. Versant Capital Management Inc increased its holdings in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.5 %

NASDAQ:TROW opened at $111.81 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $89.22 and a 1-year high of $122.27. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.82 and a beta of 1.41. The business’s 50-day moving average price is $108.26 and its two-hundred day moving average price is $111.72.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. TD Cowen dropped their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.00.

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.