T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,669 shares of the asset manager’s stock after selling 355 shares during the period. New York Life Investment Management LLC’s holdings in T. Rowe Price Group were worth $3,410,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TROW. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 2.8% in 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 in the last quarter. Morgan Stanley boosted its position in shares of T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after buying an additional 25,012 shares during the period. Northern Trust Corp grew its stake in shares of T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after buying an additional 93,829 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 buying an additional 44,175 shares during the period. Finally, Invesco Ltd. lifted its position 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 worth $176,607,000 after acquiring an additional 119,305 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.3 %

NASDAQ:TROW opened at $111.50 on Friday. The stock has a 50 day moving average of $115.20 and a 200-day moving average of $107.36. The firm has a market capitalization of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,921 shares of company stock worth $1,500,133. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TROW shares. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. increased 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. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $112.10.

Check Out Our Latest Stock Report on TROW

About T. Rowe Price Group

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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