T. Rowe Price Group Inc (NASDAQ:TROW) Position Decreased by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA reduced its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,987 shares of the asset manager’s stock after selling 190 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in T. Rowe Price Group were worth $737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Highwater Wealth Management LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $64,000. First Command Bank purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $68,000. IMS Capital Management purchased a new stake in shares of T. Rowe Price Group in the third quarter worth approximately $134,000. Townsend & Associates Inc purchased a new stake in shares of T. Rowe Price Group in the third quarter worth approximately $135,000. Finally, Ancora Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter worth approximately $171,000. Institutional investors own 73.50% of the company’s stock.

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $101.00 price target on shares of T. Rowe Price Group and gave the stock a “hold” rating in a research report on Friday, February 8th. Evercore ISI upgraded T. Rowe Price Group from an “in-line” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 31st. BidaskClub upgraded T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Credit Suisse Group dropped their price objective on T. Rowe Price Group from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, January 14th. Finally, Zacks Investment Research downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $103.64.

In other news, VP Christopher D. Alderson sold 5,681 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $92.22, for a total value of $523,901.82. Following the completion of the sale, the vice president now directly owns 118,818 shares in the company, valued at $10,957,395.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

Shares of TROW stock opened at $98.13 on Thursday. The firm has a market capitalization of $23.73 billion, a P/E ratio of 13.72, a PEG ratio of 1.56 and a beta of 1.02. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, January 30th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.25). T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.12%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group Inc will post 6.14 EPS for the current year.

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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.

Further Reading: Call Option

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

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