Sheets Smith Wealth Management Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sheets Smith Wealth Management trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,507 shares of the asset manager’s stock after selling 518 shares during the quarter. Sheets Smith Wealth Management’s holdings in T. Rowe Price Group were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Simmons Bank raised its stake in shares of T. Rowe Price Group by 23.0% during the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after buying an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP boosted its position in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares during the period. Vest Financial LLC increased its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Certuity LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $228,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.5 %

TROW opened at $112.01 on Tuesday. The company has a market cap of $25.01 billion, a PE ratio of 13.30, a P/E/G ratio of 1.93 and a beta of 1.40. The business has a 50 day moving average price of $115.23 and a two-hundred day moving average price of $107.57. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

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

Analyst Ratings Changes

A number of brokerages have weighed in on TROW. Citigroup upped their price objective on shares of 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. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Evercore ISI reduced their target price on 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, April 30th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.10.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.