Sippican Capital Advisors Has $1.86 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sippican Capital Advisors cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,442 shares of the asset manager’s stock after selling 2,215 shares during the period. T. Rowe Price Group makes up approximately 1.4% of Sippican Capital Advisors’ investment portfolio, making the stock its 25th largest position. Sippican Capital Advisors’ holdings in T. Rowe Price Group were worth $1,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Insight Folios Inc grew its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares in the last quarter. Keystone Financial Services boosted its stake in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after buying an additional 92 shares during the period. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after buying an additional 93 shares in the last quarter. Nvwm LLC increased its stake in T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after acquiring an additional 95 shares during the period. Finally, Strategy Asset Managers LLC raised its holdings in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.2 %

T. Rowe Price Group stock opened at $114.31 on Thursday. The stock has a 50-day moving average price of $117.07 and a two-hundred day moving average price of $112.73. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a market capitalization of $25.39 billion, a PE ratio of 12.51, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.82.

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.