Transcend Capital Advisors LLC Makes New Investment in T. Rowe Price Group, Inc. $TROW

Transcend Capital Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,961 shares of the asset manager’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP raised its holdings in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth grew its holdings in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares in the last quarter. PFG Investments LLC bought a new stake in T. Rowe Price Group during the second quarter worth $207,000. QRG Capital Management Inc. raised its stake in T. Rowe Price Group by 136.3% in the second quarter. QRG Capital Management Inc. now owns 33,517 shares of the asset manager’s stock valued at $3,234,000 after buying an additional 19,331 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its position in shares of T. Rowe Price Group by 126.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 9,663 shares of the asset manager’s stock valued at $932,000 after purchasing an additional 5,391 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. Bank of America increased their price target on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Morgan Stanley lifted their target price on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $107.31.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $106.65 on Tuesday. The business has a fifty day moving average price of $104.80 and a 200-day moving average price of $104.69. The firm has a market capitalization of $23.27 billion, a P/E ratio of 11.62, a PEG ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.57 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.