DnB Asset Management AS lifted its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,001 shares of the asset manager’s stock after acquiring an additional 1,000 shares during the period. DnB Asset Management AS’s holdings in T. Rowe Price Group were worth $8,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. West Oak Capital LLC grew its position in T. Rowe Price Group by 9.6% during the 4th quarter. West Oak Capital LLC now owns 7,135 shares of the asset manager’s stock worth $749,000 after purchasing an additional 625 shares during the period. Abner Herrman & Brock LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $213,000. Aurora Investment Counsel acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $2,797,000. Prudential Financial Inc. grew its position in T. Rowe Price Group by 94.1% during the 3rd quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after purchasing an additional 343,926 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in T. Rowe Price Group by 24.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 644,970 shares of the asset manager’s stock worth $58,467,000 after purchasing an additional 125,848 shares during the period. 72.48% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on TROW. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup increased their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $115.00 target price on the stock. in a research report on Friday, January 5th. Finally, UBS Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their target price for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $98.70.
In related news, VP W. Sharps Robert sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $98.64, for a total value of $493,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kenneth V. Moreland sold 14,419 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the completion of the transaction, the chief financial officer now directly owns 125,264 shares in the company, valued at $12,159,376.48. The disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock worth $20,776,729 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.
T. Rowe Price Group Inc (TROW) traded down $2.34 during trading hours on Friday, hitting $109.82. The stock had a trading volume of 2,269,120 shares, compared to its average volume of 1,640,044. T. Rowe Price Group Inc has a 52-week low of $66.70 and a 52-week high of $120.07. The firm has a market cap of $27,150.00, a PE ratio of 18.40, a PEG ratio of 1.45 and a beta of 1.28.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. equities research analysts anticipate that T. Rowe Price Group Inc will post 6.92 earnings per share for the current year.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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