Aviance Capital Partners LLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Aviance Capital Partners LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,743 shares of the asset manager’s stock after selling 227 shares during the period. Aviance Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares in the last quarter. Morgan Stanley grew its position in shares of T. Rowe Price Group by 0.7% in the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after acquiring an additional 25,012 shares in the last quarter. Northern Trust Corp increased its holdings in shares of T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after acquiring an additional 93,829 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 6.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after acquiring an additional 109,653 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their target price on shares of 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 upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Stock Up 0.5 %

Shares of T. Rowe Price Group stock traded up $0.51 during trading on Monday, hitting $112.01. The stock had a trading volume of 1,052,775 shares, compared to its average volume of 1,454,422. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a 50 day simple moving average of $115.23 and a 200 day simple moving average of $107.57. The company has a market capitalization of $25.01 billion, a PE ratio of 13.30, a P/E/G ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

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

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.