By otakuyassine3@gmail.com 
SC&H Financial Advisors Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 93.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,780 shares of the asset manager’s stock after acquiring an additional 1,821 shares during the quarter. SC&H Financial Advisors Inc.’s holdings in T. Rowe Price Group were worth $428,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its stake in T. Rowe Price Group by 25.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 4,644 shares of the asset manager’s stock valued at $525,000 after purchasing an additional 955 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in T. Rowe Price Group by 2.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,565 shares of the asset manager’s stock valued at $2,891,000 after buying an additional 591 shares during the period. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 47.6% in the fourth quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock valued at $39,000 after buying an additional 110 shares during the last quarter. Adero Partners LLC bought a new position in T. Rowe Price Group during the fourth quarter worth $439,000. Finally, Meritage Portfolio Management bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $2,670,000. Institutional investors own 73.39% of the company’s stock.
Insider Activity
In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TROW. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday. TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $115.09.
View Our Latest Report on TROW
T. Rowe Price Group Price Performance
TROW opened at $110.14 on Friday. The firm has a market capitalization of $24.47 billion, a PE ratio of 12.02, a P/E/G ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company’s 50-day moving average is $116.05 and its 200 day moving average is $112.63.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the previous year, the company earned $1.72 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.
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.
Further Reading
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