Inlet Private Wealth LLC Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Inlet Private Wealth LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,267 shares of the asset manager’s stock after selling 1,200 shares during the period. Inlet Private Wealth LLC’s holdings in T. Rowe Price Group were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake 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 worth $25,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the 3rd quarter worth approximately $37,000. Larson Financial Group LLC grew its stake in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.9 %

Shares of NASDAQ TROW opened at $116.92 on Friday. The firm has a 50-day simple moving average of $116.90 and a 200-day simple moving average of $112.75. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. 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 released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during 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%. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.17 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. 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 report on Monday, November 4th. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $115.82.

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.