Kingswood Wealth Advisors LLC Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kingswood Wealth Advisors LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,214 shares of the asset manager’s stock, valued at approximately $250,000.

Several other large investors have also added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC lifted its holdings 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 during the period. Hexagon Capital Partners LLC raised its position 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 worth $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at approximately $37,000. Larson Financial Group LLC boosted its holdings in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group in the third quarter worth $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $116.92 on Friday. The stock has a market capitalization of $25.97 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.74 and a beta of 1.43. The company’s fifty day moving average price is $116.90 and its 200 day moving average price is $112.75. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Barclays dropped their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.82.

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.