Sippican Capital Advisors Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sippican Capital Advisors boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,657 shares of the asset manager’s stock after acquiring an additional 1,220 shares during the period. T. Rowe Price Group accounts for 1.4% of Sippican Capital Advisors’ holdings, making the stock its 23rd biggest position. Sippican Capital Advisors’ holdings in T. Rowe Price Group were worth $2,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TROW. Iron Horse Wealth Management LLC increased 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 acquiring an additional 110 shares during the period. Lynx Investment Advisory acquired a new stake in T. Rowe Price Group during the second quarter valued at $29,000. Hexagon Capital Partners LLC grew its position in 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 buying an additional 104 shares during the period. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the second quarter valued at $36,000. Finally, Versant Capital Management Inc grew its position in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TROW shares. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Morgan Stanley boosted their target price on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.00.

Check Out Our Latest Stock Analysis on TROW

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.75 during mid-day trading on Thursday, reaching $111.06. 52,995 shares of the company’s stock were exchanged, compared to its average volume of 1,239,809. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 13.28, a PEG 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. The company’s 50-day moving average is $108.26 and its 200-day moving average is $111.72.

T. Rowe Price Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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