Symphony Financial Ltd. Co. increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 64.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,137 shares of the asset manager’s stock after acquiring an additional 6,742 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in T. Rowe Price Group were worth $1,935,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of T. Rowe Price Group during the third quarter worth $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $115.82.
T. Rowe Price Group Stock Up 0.9 %
Shares of NASDAQ TROW opened at $116.92 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The business has a fifty day simple moving average of $116.90 and a two-hundred day simple moving average of $112.75. The firm has a market cap of $25.97 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $2.17 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current year.
Insider Activity
In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.
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.
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