Martin Capital Partners LLC Trims Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Martin Capital Partners LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 58.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,694 shares of the asset manager’s stock after selling 23,711 shares during the quarter. T. Rowe Price Group accounts for approximately 2.2% of Martin Capital Partners LLC’s portfolio, making the stock its 21st largest holding. Martin Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after buying an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Franklin Resources Inc. increased its position in shares of T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after acquiring an additional 152,430 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth $13,559,000. 73.39% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen cut their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays reduced their price target on shares of 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. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $115.55 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The business’s fifty day moving average is $116.58 and its two-hundred day moving average is $112.65. The firm has a market cap of $25.67 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current 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.