Los Angeles Capital Management LLC Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Los Angeles Capital Management LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 54,006 shares of the asset manager’s stock, valued at approximately $5,816,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in T. Rowe Price Group by 51.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 267,951 shares of the asset manager’s stock worth $28,856,000 after buying an additional 91,242 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of T. Rowe Price Group by 6.1% in the 4th quarter. First Trust Direct Indexing L.P. now owns 4,285 shares of the asset manager’s stock valued at $461,000 after purchasing an additional 248 shares in the last quarter. Essex Financial Services Inc. bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $204,000. Finally, ICW Investment Advisors LLC raised its position in T. Rowe Price Group by 10.9% in the 4th quarter. ICW Investment Advisors LLC now owns 2,648 shares of the asset manager’s stock worth $285,000 after purchasing an additional 261 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.3 %

T. Rowe Price Group stock opened at $111.50 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The business’s fifty day simple moving average is $115.20 and its two-hundred day simple moving average is $107.47. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS 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 the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were 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 approximately $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction 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 sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Maclellan sold 3,043 shares of the business’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 of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TROW shares. Morgan Stanley raised their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, Evercore ISI reduced their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Company 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.