Newbridge Financial Services Group Inc. Sells 1,600 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Newbridge Financial Services Group Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 872 shares of the asset manager’s stock after selling 1,600 shares during the period. Newbridge Financial Services Group Inc.’s holdings in T. Rowe Price Group were worth $99,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC boosted its holdings in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the period. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at $37,000. Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of several recent analyst reports. Barclays dropped their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley raised 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. Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, TD Cowen reduced 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Stock Down 0.5 %

Shares of NASDAQ:TROW opened at $109.62 on Tuesday. The stock’s 50 day moving average is $115.78 and its 200-day moving average is $112.54. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter last year, the company posted $1.72 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other T. Rowe Price Group 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.