Amalgamated Bank Sells 3,090 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Amalgamated Bank reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,518 shares of the asset manager’s stock after selling 3,090 shares during the quarter. Amalgamated Bank’s holdings in T. Rowe Price Group were worth $5,871,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TROW. Simmons Bank lifted its position in shares of T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after purchasing an additional 656 shares during the period. L. Roy Papp & Associates LLP boosted its position in T. Rowe Price Group by 5.8% during the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares during the last quarter. Nordea Investment Management AB grew its holdings in T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares during the period. Vest Financial LLC raised its position in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Finally, Certuity LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth about $228,000. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Evercore ISI decreased their target price on 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. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted 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. Finally, 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. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Trading Up 0.3 %

Shares of T. Rowe Price Group stock opened at $111.50 on Monday. The company has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The stock has a fifty day simple moving average of $115.20 and a 200 day simple moving average of $107.47. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In related 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 sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. 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 90 days. Insiders own 2.00% of the company’s stock.

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.