Kestra Private Wealth Services LLC Sells 231 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kestra Private Wealth Services LLC lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,443 shares of the asset manager’s stock after selling 231 shares during the period. Kestra Private Wealth Services LLC’s holdings in T. Rowe Price Group were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. OFI Invest Asset Management bought a new stake in T. Rowe Price Group during the third quarter worth $25,000. Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Park Place Capital Corp grew its holdings in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.5 %

Shares of TROW stock opened at $112.01 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The business has a fifty day simple moving average of $115.23 and a 200 day simple moving average of $107.57. The company has a market cap of $25.01 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.93 and a beta of 1.40.

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, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.69 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley increased their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. UBS Group lifted their price target 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. Finally, Evercore ISI cut 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 report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $112.10.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s 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 sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the 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 completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,921 shares of company stock worth $1,500,133. Insiders own 2.00% of the company’s stock.

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.