State of Alaska Department of Revenue Sells 3,888 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

State of Alaska Department of Revenue trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,329 shares of the asset manager’s stock after selling 3,888 shares during the period. State of Alaska Department of Revenue’s holdings in T. Rowe Price Group were worth $2,864,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TROW. Insight Folios Inc boosted its stake in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares in the last quarter. Keystone Financial Services lifted its holdings in T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares during the period. MCF Advisors LLC boosted its position in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after acquiring an additional 93 shares in the last quarter. Nvwm LLC increased its holdings in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares during the period. Finally, Strategy Asset Managers LLC lifted its stake in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other 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 transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of several analyst reports. 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Evercore ISI upped their price target on 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, Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Stock Down 1.2 %

T. Rowe Price Group stock opened at $110.14 on Monday. 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 50-day moving average price of $115.78 and a 200 day moving average price of $112.55. The company has a market capitalization of $24.47 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the previous year, the company earned $1.72 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

About T. Rowe Price Group

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.