Coombe Bender & Co LLC Sells 6,049 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Coombe Bender & Co LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.9% in the fourth quarter, HoldingsChannel reports. The firm owned 19,228 shares of the asset manager’s stock after selling 6,049 shares during the quarter. T. Rowe Price Group makes up 1.3% of Coombe Bender & Co LLC’s investment portfolio, making the stock its 25th largest position. Coombe Bender & Co LLC’s holdings in T. Rowe Price Group were worth $2,071,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $25,000. Creative Financial Designs Inc. ADV boosted its stake in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the period. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth $33,000. Finally, NBC Securities Inc. bought a new stake in T. Rowe Price Group in the 3rd quarter valued at $39,000. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 in the last three months. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.2 %

TROW traded up $0.21 during trading hours on Thursday, reaching $110.51. 294,208 shares of the company’s stock traded hands, compared to its average volume of 1,445,145. The firm has a 50-day moving average price of $115.19 and a 200 day moving average price of $107.25. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The firm has a market capitalization of $24.68 billion, a PE ratio of 13.10, a PEG ratio of 1.91 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 8.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Citigroup boosted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $112.10.

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.