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

Commonwealth Equity Services LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 51.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 267,951 shares of the asset manager’s stock after acquiring an additional 91,242 shares during the period. Commonwealth Equity Services LLC owned 0.12% of T. Rowe Price Group worth $28,856,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Morgan Stanley lifted its position in shares of T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after acquiring an additional 25,012 shares in the last quarter. Northern Trust Corp lifted its position in shares of T. Rowe Price Group by 4.1% during the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after acquiring an additional 93,829 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after acquiring an additional 109,653 shares during the period. Finally, Invesco Ltd. grew its position in shares of T. Rowe Price Group by 7.6% in the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $111.50 on Monday. The firm 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. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The firm has a fifty day moving average of $115.20 and a 200 day moving average of $107.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.69 EPS. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’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 completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.10.

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.