Northeast Investment Management Trims Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Northeast Investment Management lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 71,770 shares of the asset manager’s stock after selling 4,460 shares during the quarter. Northeast Investment Management’s holdings in T. Rowe Price Group were worth $8,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares in the last quarter. Geode Capital Management LLC boosted its holdings in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after acquiring an additional 25,481 shares during the last quarter. Provident Trust Co. raised its position in T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares during the period. Fisher Asset Management LLC raised its position in T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in T. Rowe Price Group by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock valued at $149,812,000 after purchasing an additional 53,997 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TROW. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Morgan Stanley lifted their price target 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. Barclays decreased their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Price Performance

TROW stock opened at $110.14 on Friday. The company has a 50-day moving average of $115.78 and a two-hundred day moving average of $112.59. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 net margin of 29.61% and a return on equity of 20.91%. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

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.