Commonwealth Equity Services LLC Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commonwealth Equity Services LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 51.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,951 shares of the asset manager’s stock after acquiring an additional 91,242 shares during the quarter. Commonwealth Equity Services LLC’s holdings in T. Rowe Price Group were worth $28,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms have commented on TROW. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Morgan Stanley raised their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Finally, Evercore ISI decreased 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 report on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $112.10.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,921 shares of company stock worth $1,500,133. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $111.50 on Monday. The company has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The stock’s 50 day simple moving average is $115.20 and its two-hundred day simple moving average is $107.47. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 8.75 EPS for the current 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.