Telos Capital Management Inc. Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Telos Capital Management Inc. trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 94,677 shares of the asset manager’s stock after selling 6,582 shares during the quarter. T. Rowe Price Group accounts for about 1.1% of Telos Capital Management Inc.’s holdings, making the stock its 25th largest holding. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Sanctuary Advisors LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $1,567,000. Czech National Bank boosted its position in T. Rowe Price Group by 6.6% in the third quarter. Czech National Bank now owns 45,345 shares of the asset manager’s stock worth $4,939,000 after purchasing an additional 2,793 shares during the last quarter. Brookstone Capital Management grew its stake in T. Rowe Price Group by 3.9% in the 3rd quarter. Brookstone Capital Management now owns 86,089 shares of the asset manager’s stock valued at $9,378,000 after purchasing an additional 3,208 shares during the period. Hoxton Planning & Management LLC purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $243,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $111.44 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The business’s fifty day moving average is $116.31 and its 200 day moving average is $112.63. The firm has a market cap of $24.76 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same quarter in the previous year, the company earned $1.72 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Company 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.