abrdn plc Has $11.32 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

abrdn plc decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,103 shares of the asset manager’s stock after selling 14,484 shares during the period. abrdn plc’s holdings in T. Rowe Price Group were worth $11,315,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC bought a new position in T. Rowe Price Group in the third quarter valued at approximately $37,000. Larson Financial Group LLC boosted its holdings in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $43,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on shares of 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 research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Trading Down 1.2 %

Shares of NASDAQ TROW opened at $110.14 on Friday. The firm has a market cap of $24.47 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The business’s 50 day moving average is $116.05 and its 200-day moving average is $112.63. 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 posted its 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 20.35% and a net margin of 30.35%. During the same period last year, the company posted $1.72 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

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.