Brown Lisle Cummings Inc. Lowers Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brown Lisle Cummings Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,015 shares of the asset manager’s stock after selling 4,330 shares during the period. T. Rowe Price Group accounts for about 1.1% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 21st biggest holding. Brown Lisle Cummings Inc.’s holdings in T. Rowe Price Group were worth $3,621,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Insight Folios Inc increased its holdings in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares in the last quarter. Keystone Financial Services increased its stake in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares in the last quarter. MCF Advisors LLC raised its holdings in T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Nvwm LLC raised its holdings in T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its position in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 1.4 %

Shares of T. Rowe Price Group stock opened at $115.27 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The business’s fifty day moving average is $116.90 and its two-hundred day moving average is $112.65. The firm has a market cap of $25.61 billion, a PE ratio of 12.61, a P/E/G ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its 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. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Evercore ISI lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Barclays reduced their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.82.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company Profile

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.