Griffin Asset Management Inc. Sells 1,910 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Griffin Asset Management Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,861 shares of the asset manager’s stock after selling 1,910 shares during the period. Griffin Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,568,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC increased its position 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. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at about $37,000. Larson Financial Group LLC raised its stake in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group in the third quarter worth about $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TROW. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on 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. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $113.73 on Tuesday. The firm’s 50-day moving average is $117.22 and its two-hundred day moving average is $112.77. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The company has a market capitalization of $25.27 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during 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 revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.