Absher Wealth Management LLC Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Absher Wealth Management LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,999 shares of the asset manager’s stock after selling 5,027 shares during the quarter. T. Rowe Price Group comprises approximately 3.3% of Absher Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Absher Wealth Management LLC owned approximately 0.11% of T. Rowe Price Group worth $25,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC raised its position 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 valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new position in T. Rowe Price Group in the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its stake in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 2.0 %

NASDAQ TROW traded up $2.25 during trading hours on Friday, hitting $112.11. 148,088 shares of the stock were exchanged, compared to its average volume of 1,246,572. The company has a market cap of $24.96 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $90.02 and a 12-month high of $122.27. The stock has a 50-day moving average of $108.27 and a 200 day moving average of $111.70.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price objective on T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.00.

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.