T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Coombe Bender & Co LLC

Coombe Bender & Co LLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,228 shares of the asset manager’s stock after selling 6,049 shares during the quarter. T. Rowe Price Group makes up 1.3% of Coombe Bender & Co LLC’s holdings, making the stock its 25th largest holding. Coombe Bender & Co LLC’s holdings in T. Rowe Price Group were worth $2,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after acquiring an additional 134,839 shares in the last quarter. Morgan Stanley boosted its position in T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after purchasing an additional 25,012 shares during the last quarter. Northern Trust Corp grew its stake in T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after purchasing an additional 93,829 shares in the last quarter. Bank of New York Mellon Corp grew its stake in T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after purchasing an additional 44,175 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.10.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 in the last three months. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded up $0.21 during mid-day trading on Thursday, reaching $110.51. The company’s stock had a trading volume of 294,208 shares, compared to its average volume of 1,445,145. The company has a market cap of $24.68 billion, a P/E ratio of 13.10, a PEG ratio of 1.91 and a beta of 1.40. The firm’s 50-day moving average is $115.19 and its two-hundred day moving average is $107.25. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $1.69 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.67 EPS 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.