T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.5% during the fourth quarter, Holdings Channel reports. The firm owned 425 shares of the asset manager’s stock after selling 625 shares during the quarter. Independence Bank of Kentucky’s holdings in T. Rowe Price Group were worth $48,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nilsine Partners LLC boosted its holdings in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Janus Henderson Group PLC increased its stake in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the period. Aigen Investment Management LP acquired a new position in T. Rowe Price Group in the third quarter valued at $516,000. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TROW. Evercore ISI boosted their price target 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. Wells Fargo & Company cut their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Barclays lowered their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Trading Up 0.9 %

TROW stock opened at $116.92 on Monday. The firm has a 50 day moving average of $116.90 and a 200-day moving average of $112.69. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.74 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

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

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.