Forsta AP Fonden Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Forsta AP Fonden trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,000 shares of the asset manager's stock after selling 5,800 shares during the period. Forsta AP Fonden owned about 0.05% of T. Rowe Price Group worth $12,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in shares of T. Rowe Price Group by 19.2% in the second quarter. Mackenzie Financial Corp now owns 30,085 shares of the asset manager's stock worth $3,469,000 after purchasing an additional 4,841 shares in the last quarter. Creative Planning grew its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Creative Planning now owns 55,147 shares of the asset manager's stock valued at $6,359,000 after buying an additional 2,827 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in T. Rowe Price Group by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,910 shares of the asset manager's stock valued at $2,757,000 after acquiring an additional 118 shares during the period. Quarry LP purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $86,000. Finally, EP Wealth Advisors LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth $419,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

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 business's stock in a transaction that occurred 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 sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Up 0.8 %

NASDAQ:TROW traded up $0.91 during midday trading on Thursday, hitting $115.22. The company had a trading volume of 247,274 shares, compared to its average volume of 1,275,389. The stock's fifty day moving average price is $117.01 and its 200-day moving average price is $112.74. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a market capitalization of $25.60 billion, a PE ratio of 12.61, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.17 EPS. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a research report on Thursday, October 3rd. Barclays cut their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and an average 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.