Newbridge Financial Services Group Inc. Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Newbridge Financial Services Group Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 872 shares of the asset manager’s stock after selling 1,600 shares during the period. Newbridge Financial Services Group Inc.’s holdings in T. Rowe Price Group were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in T. Rowe Price Group by 437.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,597 shares of the asset manager’s stock valued at $174,000 after acquiring an additional 1,300 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of T. Rowe Price Group in the third quarter valued at $105,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of T. Rowe Price Group by 13.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,442 shares of the asset manager’s stock valued at $919,000 after buying an additional 992 shares during the last quarter. Creative Planning lifted its position in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock valued at $6,026,000 after buying an additional 177 shares during the last quarter. Finally, Brady Family Wealth LLC grew its stake in shares of T. Rowe Price Group by 0.6% during the 3rd quarter. Brady Family Wealth LLC now owns 22,009 shares of the asset manager’s stock worth $2,397,000 after acquiring an additional 125 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $109.62 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a fifty day moving average of $115.78 and a 200 day moving average of $112.54. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.70 and a beta of 1.44.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TROW. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. TD Cowen cut their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced 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 report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $115.09.

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.