Griffin Asset Management Inc. Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Griffin Asset Management Inc. decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,861 shares of the asset manager’s stock after selling 1,910 shares during the quarter. Griffin Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,568,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of T. Rowe Price Group by 2.8% during the third 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 in the last quarter. Janus Henderson Group PLC grew its holdings in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares in the last quarter. Aigen Investment Management LP acquired a new position in T. Rowe Price Group during the 3rd quarter worth $516,000. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 3.5% in 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 purchasing an additional 231,286 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of T. Rowe Price Group by 442,900.0% in the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock valued at $483,000 after purchasing an additional 4,429 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’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 value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays lowered their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. TD Cowen cut their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Trading Down 0.4 %

Shares of NASDAQ TROW opened at $113.73 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a 50-day moving average of $117.22 and a two-hundred day moving average of $112.77. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 earnings per share. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Company 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.