Blue Trust Inc. Purchases 822 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Blue Trust Inc. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,437 shares of the asset manager’s stock after acquiring an additional 822 shares during the period. Blue Trust Inc.’s holdings in T. Rowe Price Group were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its holdings in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of 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 acquiring an additional 104 shares during the period. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth approximately $43,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $115.82.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $116.92 on Friday. The firm has a 50 day moving average price of $116.90 and a two-hundred day moving average price of $112.75. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a market cap of $25.97 billion, a P/E 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) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $2.17 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current fiscal 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.