First Trust Direct Indexing L.P. Purchases 248 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Trust Direct Indexing L.P. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,285 shares of the asset manager’s stock after buying an additional 248 shares during the period. First Trust Direct Indexing L.P.’s holdings in T. Rowe Price Group were worth $461,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.10.

Insider Activity

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 related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $111.50 on Monday. The stock has a market capitalization 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 company’s 50-day moving average price is $115.20 and its two-hundred day moving average price is $107.47. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

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.