TCI Wealth Advisors Inc. Sells 327 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

TCI Wealth Advisors Inc. lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,507 shares of the asset manager’s stock after selling 327 shares during the period. TCI Wealth Advisors Inc.’s holdings in T. Rowe Price Group were worth $284,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TROW. International Assets Investment Management LLC increased its position in shares of T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of T. Rowe Price Group by 45.1% during the third quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after purchasing an additional 152,430 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the third quarter valued at $13,559,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TROW shares. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Barclays lowered their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, Morgan Stanley lifted their price objective 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. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 0.9 %

TROW stock opened at $116.92 on Friday. The business’s 50-day moving average price is $116.96 and its 200-day moving average price is $112.76. The stock has a market cap of $25.97 billion, a P/E ratio of 12.79, a PEG ratio of 1.74 and a beta of 1.43. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current fiscal year.

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.