Verity Asset Management Inc. Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Verity Asset Management Inc. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,329 shares of the asset manager’s stock after acquiring an additional 962 shares during the quarter. Verity Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insight Folios Inc lifted its holdings in T. Rowe Price Group by 3.6% in the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares in the last quarter. Keystone Financial Services increased its holdings in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares during the last quarter. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares in the last quarter. Nvwm LLC increased its holdings in shares of T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its stake in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after buying an additional 95 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 T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade 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 at the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $115.27 on Tuesday. The company has a 50 day moving average price of $116.90 and a 200-day moving average price of $112.65. The company has a market capitalization of $25.61 billion, a PE ratio of 12.61, a P/E/G ratio of 1.78 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TROW shares. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Barclays lowered their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Company 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.