Cobiz Wealth LLC Reduces Position in T. Rowe Price Group, Inc. (TROW)

Cobiz Wealth LLC lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,390 shares of the company’s stock after selling 1,305 shares during the period. Cobiz Wealth LLC’s holdings in T. Rowe Price Group were worth $556,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. raised its position in T. Rowe Price Group by 65.6% in the fourth quarter. Johnson Financial Group Inc. now owns 3,230 shares of the company’s stock valued at $243,000 after buying an additional 1,280 shares during the period. BP PLC bought a new position in T. Rowe Price Group during the fourth quarter valued at $2,258,000. Equity Investment Corp Acquisition Inc bought a new position in T. Rowe Price Group during the fourth quarter valued at $213,000. Ffcm LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at $2,476,000. Finally, Paradigm Asset Management Co. LLC raised its position in T. Rowe Price Group by 546.0% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 61,050 shares of the company’s stock valued at $4,595,000 after buying an additional 51,600 shares during the period. 71.35% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down 0.30% on Tuesday, hitting $69.61. The stock had a trading volume of 94,632 shares. The firm has a market capitalization of $16.94 billion, a P/E ratio of 14.65 and a beta of 1.29. The company has a 50 day moving average of $72.01 and a 200-day moving average of $70.14. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $79.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, January 26th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.07. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 24.49%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post $4.82 EPS for the current fiscal year.

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A number of equities analysts have recently commented on TROW shares. Argus lifted their price objective on T. Rowe Price Group from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, December 7th. J P Morgan Chase & Co reiterated an “underweight” rating on shares of T. Rowe Price Group in a research note on Thursday, January 12th. UBS AG upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $82.00 in a research note on Thursday, November 10th. Credit Suisse Group set a $62.00 price objective on T. Rowe Price Group and gave the stock a “hold” rating in a research note on Saturday, February 4th. Finally, Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.08.

In related news, VP Christopher D. Alderson sold 4,512 shares of the business’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $76.72, for a total transaction of $346,160.64. Following the transaction, the vice president now directly owns 111,707 shares in the company, valued at $8,570,161.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 133,244 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $77.67, for a total transaction of $10,349,061.48. Following the transaction, the vice president now owns 190,473 shares in the company, valued at $14,794,037.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,756 shares of company stock worth $10,923,582. 3.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

5 Day Chart for NASDAQ:TROW

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