Sumitomo Mitsui Trust Group Inc. Has $71.05 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sumitomo Mitsui Trust Group Inc. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 628,288 shares of the asset manager’s stock after selling 35,775 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of T. Rowe Price Group worth $71,053,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the period. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after acquiring an additional 25,481 shares during the period. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after acquiring an additional 7,905 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after purchasing an additional 47,998 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock valued at $149,812,000 after purchasing an additional 53,997 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TROW. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley increased their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Trading Down 1.2 %

NASDAQ:TROW opened at $110.14 on Monday. The stock has a market capitalization of $24.47 billion, a PE ratio of 12.02, a P/E/G ratio of 1.70 and a beta of 1.44. The firm has a fifty day simple moving average of $115.78 and a 200 day simple moving average of $112.55. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period last year, the company posted $1.72 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

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.