Choreo LLC Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Choreo LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 65.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,677 shares of the asset manager’s stock after purchasing an additional 2,631 shares during the period. Choreo LLC’s holdings in T. Rowe Price Group were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after buying an additional 134,839 shares in the last quarter. Morgan Stanley grew its position in shares of T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after buying an additional 25,012 shares in the last quarter. Northern Trust Corp grew its position in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after buying an additional 93,829 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after buying an additional 44,175 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after buying an additional 119,305 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,921 shares of company stock worth $1,500,133. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on TROW. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Citigroup raised their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Evercore ISI dropped their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $110.30 on Thursday. The stock has a 50-day moving average of $115.19 and a two-hundred day moving average of $107.25. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The stock has a market cap of $24.63 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business posted $1.69 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.67 EPS for the current fiscal year.

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.