T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425 shares of the asset manager’s stock after selling 625 shares during the period. Independence Bank of Kentucky’s holdings in T. Rowe Price Group were worth $48,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TROW. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. Geode Capital Management LLC boosted its holdings in T. Rowe Price Group by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the last quarter. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after buying an additional 47,998 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in T. Rowe Price Group by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock valued at $149,812,000 after acquiring an additional 53,997 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.9 %

Shares of NASDAQ TROW opened at $116.92 on Monday. The stock has a market cap of $25.97 billion, a P/E ratio of 12.79, a PEG ratio of 1.74 and a beta of 1.43. The business’s fifty day simple moving average is $116.90 and its 200-day simple moving average is $112.69. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $2.17 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.42 EPS for the current fiscal year.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays reduced their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.82.

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.