Essex Financial Services Inc. Invests $204,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Essex Financial Services Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,890 shares of the asset manager’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its holdings in shares of T. Rowe Price Group by 5.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 203,529 shares of the asset manager’s stock worth $21,344,000 after acquiring an additional 10,602 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after buying an additional 44,175 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $83,000. Hendley & Co. Inc. grew its stake in T. Rowe Price Group by 0.6% in the 3rd quarter. Hendley & Co. Inc. now owns 36,364 shares of the asset manager’s stock valued at $3,813,000 after buying an additional 234 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in T. Rowe Price Group by 28.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 23,748 shares of the asset manager’s stock valued at $2,490,000 after acquiring an additional 5,201 shares during the period. Institutional investors own 73.39% of the company’s stock.

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 on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research analyst reports. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Up 0.3 %

Shares of T. Rowe Price Group stock opened at $111.50 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.93 and a beta of 1.40. The firm’s 50-day moving average price is $115.20 and its two-hundred day moving average price is $107.36.

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

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.