Fidelis Capital Partners LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Fidelis Capital Partners LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,258 shares of the asset manager’s stock, valued at approximately $540,000.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. grew its holdings in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. PFG Investments LLC boosted its position in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock valued at $231,000 after acquiring an additional 102 shares during the last quarter. Bill Few Associates Inc. grew its holdings in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 107 shares during the period. Beacon Investment Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.2% in the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 120 shares during the period. Finally, United Asset Strategies Inc. increased its position in T. Rowe Price Group by 0.8% during the third quarter. United Asset Strategies Inc. now owns 16,994 shares of the asset manager’s stock worth $1,744,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TROW shares. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley upped their price objective on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Barclays cut their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday, January 15th. Finally, Keefe, Bruyette & Woods reduced their target price on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 16th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $107.31.

T. Rowe Price Group Stock Up 0.8%

NASDAQ:TROW opened at $105.68 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock’s fifty day moving average is $104.67 and its two-hundred day moving average is $104.65. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.52.

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