Van ECK Associates Corp Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Van ECK Associates Corp lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,261 shares of the asset manager’s stock after buying an additional 1,025 shares during the quarter. Van ECK Associates Corp’s holdings in T. Rowe Price Group were worth $3,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clear Harbor Asset Management LLC grew its position in shares of T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after buying an additional 100 shares during the period. Caprock Group LLC grew its position in shares of T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after buying an additional 101 shares during the period. Roundview Capital LLC grew its position in shares of T. Rowe Price Group by 0.5% in the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock worth $2,336,000 after buying an additional 105 shares during the period. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in T. Rowe Price Group by 2.6% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,451 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 114 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other 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 transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, 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 sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, 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 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Morgan Stanley increased their price objective 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, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Stock Performance

TROW opened at $111.50 on Monday. The stock has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.93 and a beta of 1.40. The company’s 50-day simple moving average is $115.20 and its two-hundred day simple moving average is $107.47. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

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

About T. Rowe Price Group

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.