New York Life Investment Management LLC Has $3.41 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

New York Life Investment Management LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,669 shares of the asset manager’s stock after selling 355 shares during the quarter. New York Life Investment Management LLC’s holdings in T. Rowe Price Group were worth $3,410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in T. Rowe Price Group during the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV boosted its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $39,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 0.3 %

Shares of TROW stock opened at $111.50 on Friday. The firm’s fifty day moving average price is $115.20 and its two-hundred day moving average price is $107.36. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The firm has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a PEG ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.69 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. In the last three months, insiders sold 12,921 shares of company stock worth $1,500,133. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI lowered their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, Citigroup upped their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $112.10.

About T. Rowe Price Group

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.