Concord Wealth Partners Has $90,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Concord Wealth Partners trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 34.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 836 shares of the asset manager’s stock after selling 440 shares during the quarter. Concord Wealth Partners’ holdings in T. Rowe Price Group were worth $90,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its position in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of T. Rowe Price Group during the third quarter worth $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.8 %

NASDAQ TROW opened at $111.16 on Friday. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.91 and a beta of 1.40. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The company has a 50 day moving average of $115.19 and a 200-day moving average of $107.28.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,921 shares of company stock valued at $1,500,133. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.10.

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.