Inlet Private Wealth LLC Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Inlet Private Wealth LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,267 shares of the asset manager’s stock after selling 1,200 shares during the period. Inlet Private Wealth LLC’s holdings in T. Rowe Price Group were worth $2,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC grew 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 buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings 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 acquiring an additional 104 shares in the last quarter. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $37,000. Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays dropped their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Morgan Stanley increased their price target 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 boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $115.82.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $116.92 on Friday. The stock has a fifty day moving average price of $116.90 and a 200 day moving average price of $112.75. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a market cap of $25.97 billion, a PE ratio of 12.79, a P/E/G ratio of 1.74 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business earned $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate 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.