Northeast Investment Management Sells 4,460 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Northeast Investment Management reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,770 shares of the asset manager’s stock after selling 4,460 shares during the period. Northeast Investment Management’s holdings in T. Rowe Price Group were worth $8,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nilsine Partners LLC lifted its holdings in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Janus Henderson Group PLC lifted its position in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares during the last quarter. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the third quarter valued at approximately $516,000. Finally, Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 3.5% during 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 acquiring an additional 231,286 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on TROW shares. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reissued 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. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen dropped their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Trading Down 1.2 %

Shares of T. Rowe Price Group stock opened at $110.14 on Friday. The firm has a market capitalization of $24.47 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.70 and a beta of 1.44. The business has a fifty day simple moving average of $115.78 and a two-hundred day simple moving average of $112.59. 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 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 period in the previous year, the business posted $1.72 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on 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 $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.