Cullinan Associates Inc. Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cullinan Associates Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the asset manager’s stock after selling 504 shares during the quarter. Cullinan Associates Inc.’s holdings in T. Rowe Price Group were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TROW. Cetera Investment Advisers raised its position in shares of T. Rowe Price Group by 3.2% in the second quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock valued at $5,148,000 after purchasing an additional 1,385 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $1,567,000. Czech National Bank raised its position in shares of T. Rowe Price Group by 6.6% in the third quarter. Czech National Bank now owns 45,345 shares of the asset manager’s stock valued at $4,939,000 after purchasing an additional 2,793 shares during the period. Exeter Financial LLC raised its position in shares of T. Rowe Price Group by 7.8% in the third quarter. Exeter Financial LLC now owns 24,317 shares of the asset manager’s stock valued at $2,649,000 after purchasing an additional 1,750 shares during the period. Finally, Brookstone Capital Management raised its position in shares of T. Rowe Price Group by 3.9% in the third quarter. Brookstone Capital Management now owns 86,089 shares of the asset manager’s stock valued at $9,378,000 after purchasing an additional 3,208 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.2 %

NASDAQ:TROW opened at $115.55 on Wednesday. The company has a 50-day moving average price of $116.74 and a 200-day moving average price of $112.64. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.78 and a beta of 1.44.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Evercore ISI upped their target price on shares of 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. Morgan Stanley upped their target price on shares of 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. Finally, Barclays decreased their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $115.82.

View Our Latest Report on TROW

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

(Free Report)

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.

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

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