Headlands Technologies LLC Trims Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Headlands Technologies LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 815 shares of the asset manager’s stock after selling 1,203 shares during the period. Headlands Technologies LLC’s holdings in T. Rowe Price Group were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Morgan Stanley increased its holdings in T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp increased its holdings in T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after purchasing an additional 93,829 shares during the period. Bank of New York Mellon Corp increased its holdings in T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after purchasing an additional 44,175 shares during the period. Finally, Invesco Ltd. increased its holdings in T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Down 2.2 %

T. Rowe Price Group stock opened at $109.57 on Wednesday. The company has a market capitalization of $24.47 billion, a P/E ratio of 13.01, a PEG ratio of 2.08 and a beta of 1.40. The stock’s 50 day moving average is $115.17 and its 200 day moving average is $107.23. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.45 EPS for the current year.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is owned by corporate insiders.

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.