T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,867 shares of the asset manager’s stock after selling 166,132 shares during the period. T. Rowe Price Group accounts for 1.0% of Absher Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Absher Wealth Management LLC’s holdings in T. Rowe Price Group were worth $7,675,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of 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 valued at $32,000 after buying an additional 104 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $37,000. Finally, Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $110.70 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The stock’s 50 day simple moving average is $116.58 and its 200 day simple moving average is $112.65. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. During the same period in the prior year, the company earned $1.72 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TROW shares. Barclays dropped 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 report on Friday, January 17th. Morgan Stanley raised their target price on 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 increased their price objective on 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. Keefe, Bruyette & Woods reduced their price target 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. decreased their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $115.82.

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.