Absher Wealth Management LLC Sells 166,132 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Absher Wealth Management LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,867 shares of the asset manager’s stock after selling 166,132 shares during the period. T. Rowe Price Group accounts for approximately 1.0% of Absher Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Absher Wealth Management LLC’s holdings in T. Rowe Price Group were worth $7,675,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TROW. Meritage Portfolio Management purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth $2,670,000. Confluence Wealth Services Inc. raised its stake in T. Rowe Price Group by 10.7% in the fourth quarter. Confluence Wealth Services Inc. now owns 10,811 shares of the asset manager’s stock worth $1,226,000 after buying an additional 1,043 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of T. Rowe Price Group by 20.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 189,446 shares of the asset manager’s stock worth $21,912,000 after acquiring an additional 32,378 shares in the last quarter. Y.D. More Investments Ltd lifted its position in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Finally, ARGA Investment Management LP grew its holdings in T. Rowe Price Group by 7.8% in the fourth quarter. ARGA Investment Management LP now owns 12,212 shares of the asset manager’s stock worth $1,381,000 after purchasing an additional 881 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 4.2 %

TROW stock opened at $110.70 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company’s 50-day simple moving average is $116.58 and its 200-day simple moving average is $112.65. The firm has a market cap of $24.59 billion, a P/E ratio of 12.11, a PEG ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its 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 business posted $1.72 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen lowered their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $115.82.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

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.