Aviance Capital Partners LLC Sells 227 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Aviance Capital Partners LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,743 shares of the asset manager’s stock after selling 227 shares during the period. Aviance Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after acquiring an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in T. Rowe Price Group in the third quarter worth $21,114,000. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Invesco Ltd. increased its position in shares of T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of T. Rowe Price Group by 6.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.51 during midday trading on Monday, reaching $112.01. 1,052,775 shares of the stock were exchanged, compared to its average volume of 1,454,422. 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 cap of $25.01 billion, a PE ratio of 13.30, a PEG ratio of 1.93 and a beta of 1.40. The company’s fifty day moving average is $115.23 and its 200-day moving average is $107.57.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock valued at $1,500,133 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TROW shares. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group 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.