Folger Nolan Fleming Douglas Capital Management Inc. Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,238 shares of the asset manager’s stock after selling 1,564 shares during the quarter. T. Rowe Price Group accounts for about 1.0% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Iron Horse Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group in the second quarter valued at $36,000. Finally, Versant Capital Management Inc grew its holdings in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of analyst reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.00.

T. Rowe Price Group Trading Down 0.5 %

NASDAQ:TROW opened at $111.81 on Thursday. The stock has a 50 day moving average of $108.26 and a 200-day moving average of $111.72. The firm has a market capitalization of $24.97 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $89.22 and a 52 week high of $122.27.

Insider Buying and Selling

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

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.