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

Sheets Smith Wealth Management trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,507 shares of the asset manager’s stock after selling 518 shares during the period. Sheets Smith Wealth Management’s holdings in T. Rowe Price Group were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Simmons Bank boosted its position in shares of T. Rowe Price Group by 23.0% during the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after buying an additional 656 shares during the period. L. Roy Papp & Associates LLP lifted its position in shares of T. Rowe Price Group by 5.8% during the 4th 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 shares of T. Rowe Price Group by 3.5% in 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 last quarter. Vest Financial LLC raised its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares during the period. Finally, Certuity LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $228,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $112.01 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The company has a market capitalization of $25.01 billion, a PE ratio of 13.30, a PEG ratio of 1.93 and a beta of 1.40. The company has a 50 day moving average price of $115.23 and a two-hundred day moving average price of $107.57.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion during 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 firm’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. 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 report on Friday, April 5th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.10.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was 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 directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders sold 12,921 shares of company stock valued at $1,500,133 over the last quarter. 2.00% of the stock is owned by company insiders.

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.